According to the verdict of the court, the former founder of Celsius must pay $ 48 million and will serve the deadline for the correctional institution Otisville. The businessman’s lawyers asked about a period of about a year, claiming that their client “did not intend to deceive anyone”, but became an unhappy victim of a market crisis, “like many others”.
Celsius positioned itself as a profitable alternative to banks, offering high interest rates for storing cryptocurrencies. Having gained popularity thanks to Mashinskoy’s performances, the company at the peak of popularity kept $ 25 billion assets. However, in June 2022, in the midst of the “cryptosim”, Celsius stopped the withdrawal of funds. A month later, the company filed for bankruptcy, blocking its customers access to $ 5 billion in cryptoactives.
The US Federal Prosecutor’s Office claimed that Mashinsky deliberately lied about the financial results of the company, creating the illusion of profitability.
In December 2024, Machinsky pleaded guilty for two accusations: in fraud with raw materials and manipulating the price of CEL token produced by Celsius.
Earlier, the Celsius Network platform appealed to the decision of John Dorsey, who devoted the demand for the bankrupt crypto -based FTX, pay compensation for $ 444 million.
Source: Bits
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