Add as a preferred source on GoogleCelsius Former CEO Faces Permanent Ban and Up to $35 Million Payment
The settlement resolves New York allegations involving investor fraud and bars Alex Mashinsky from securities, commodities and crypto activity.
New York Attorney General Letitia James announced a settlement with former Celsius CEO Alex Mashinsky that could require up to $35 million in conditional compensation and permanently bar him from the securities, commodities and cryptocurrency industries.
The agreement resolves James’ allegations that Mashinsky defrauded investors. It would prevent him from returning to the crypto industry or participating in securities and commodities activities.
Mashinsky is currently serving a 12-year prison sentence. The Federal Trade Commission and Commodity Futures Trading Commission have also imposed industry bans on him.
Celsius creditors have received more than $3.4 billion through the company’s bankruptcy proceedings, adding recovery context to the settlement involving the failed crypto lender’s former chief executive.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.