Founder of failed crypto lending platform Celsius Network arrested on fraud charges

Alexander Machinsky, founder and former chief executive of the failed cryptocurrency lending platform Celsius Network, leaves Manhattan federal court Thursday, July 13, 2023, in New York on $40 million bail after pleading not guilty to charges alleging that he schemed to defraud customers by misleading them about key aspects of the business.

Another Mashinsky attorney, Jonathan Ohring, said in an email that his client “vehemently denies the allegations brought today.” The indictment alleged that Mashinsky promoted Celsius through media interviews, his Twitter account and Celsius's website, along with a weekly “Ask Mashinsky Anything” session broadcast posted to Celsius's website and a YouTube channel.

By the fall of 2021, Celsius had become one of the largest crypto platforms in the world, purportedly holding approximately $25 billion in assets, it said.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Celsius Network's Alex Mashinsky Arrested, Firm Sued by SEC, CFTC, FTCThe bankrupt crypto lending platform's CEO and co-founder Mashinsky was arrested Thursday following an investigation into the company's collapse, Bloomberg reported.
Source: CoinDesk - 🏆 291. / 63 Read more »

Founder of failed crypto lending platform Celsius Network arrested on fraud chargesThe founder and former CEO of the failed cryptocurrency lending platform Celsius Network has been arrested on federal fraud charges alleging that he schemed to defraud customers by misleading them about key aspects of the business
Source: WOKVNews - 🏆 247. / 63 Read more »

Founder of cryptocurrency lending platform Celsius Network arrestedThe founder of cryptocurrency lending platform Celsius Network was arrested on federal charges.
Source: ABC - 🏆 471. / 51 Read more »