Celsius CEO Mashinsky Sentenced To 12 Years in Multi-Billion-Dollar Crypto Fraud Case

Alexander Mashinsky, the former CEO of Celsius Network, was sentenced to 12 years in prison on Thursday after pleading guilty to two counts of fraud, a dramatic fall for the leader of a company once hailed as the "bank" of the crypto industry. From a report: Standing before U.S. District Judge John G. Koeltl in Manhattan's Southern District, Mashinsky faced the consequences of what prosecutors described as a sweeping scheme to defraud investors. In December he pleaded guilty to commodities fraud and a scheme to manipulate the Celsius token.

His sentencing took place in courtroom 14A at 500 Pearl Street -- a venue that has seen several crypto executives-turned-felons. Mashinsky's legal troubles began in 2023 when he was arrested on charges of securities, commodities, and wire fraud, just as Celsius reached a $4.7 billion settlement with the Federal Trade Commission -- one of the largest in the FTC's history.

Re: hm, lots of coincidences going on

[commodore73]

I say we get this Sammy character to replace Jerome Powell ASAP.

Re:

[Mirnotoriety]

> I say we get this Sammy character to replace Jerome Powell ASAP.

What you are experience is a reality-shift. PKD on some metaphysical plane is having a laugh.

Re:

[commodore73]

My tweet was a joke, in case that wasn't clear. If yours was a joke, I didn't quite get it, maybe as I don't know what you mean by PKD.

Re:

[commodore73]

And then, of course, I got it. And I had needed the reminder for something else, so thanks.

Re:

[rossdee]

I thought that PKD referred to Philip K Dick, SF author whose most famous work was Do Androids Dream of Electric Sheep (filmed as Blade Runner)

and The man in the high castle (Nazi's win WWII)

Re:

[commodore73]

Yeah, I got it right after I posted that. I happen to be working on a relevent list, but it's hard to remember everything, or even much these days.

1984, George Orwell
https://www.goodreads.com/book... [goodreads.com]
The Giver, Lois Lowry
https://www.goodreads.com/book... [goodreads.com]
The Iron Heel, Jack London
https://www.goodreads.com/book... [goodreads.com]
We, Yevgeny Zamyatin
https://www.goodreads.com/book... [goodreads.com]
I Have No Mouth & I Must Scream, Harlan Ellison
https://ww [goodreads.com]

Re:

[thegarbz]

If you think it's a "coincidence" that people doing illegal things are admitting those illegal things in court and going to jail for doing illegal things then I invite you to open a dictionary and re-read the definition of the word "coincidence".

You don't say

[RUs1729]

Another cryptocurrency executive found guilty of fraud. Who would have thunk?

Re:

[Jerrry]

How long until Trump pardons him?

Re:

[crunchygranola]

He'll have to first rent some suites in a convicted felon owned property. No benefit comes from the orange one without kicking back.

Pump and dump, repeat. That's what crypto is.

[wheelbarrow]

I don't think any egalitarian and honest benefits from crypto can survive the greedy con-artists who can't keep their meathooks out of crypto.

Crypto-trash

[slashtivus]

Entirely not suprised. How many times have we seen a crypto scheme go under with fraud and deception go down. Yet somehow there will still be a poster to praise the entire crypto-junk as our savior.

His next step?

[DesertNomad]

A large coordinated purchase of presidential mem coinage. Pardons will happen, all will be forgotten.

Appropriate

[crunchygranola]

Celsius CEO on ice after driving the value of his company below zero. Maybe he should have named his company Kelvin.