13.07.2023 19:09 Uhr, Quelle: Engadget

Celsius founder Alex Mashinsky arrested and charged with fraud

The problems keep mounting for Celsius founder Alex Mashinsky, as he’s been arrested and charged by federal authorities with fraud. Mashinsky faces seven criminal counts, including securities, commodities and wire fraud, as originally reported by CBS News. He and his company are being independent sued by three government agencies — the FTC, CFTC and SEC. The U.S. Attorney’s Office alleges that Mashinsky misled customers regarding the nature of his company, making it seem like a bank when it was actually a high-risk investment fund.Celsius’s former chief revenue officer, Roni Cohen-Pavon, was also arrested, with both Pavon and Mashinsky being charged with manipulating the price of the company’s proprietary crypto token so they could sell their own stock at inflated prices. “Mashinsky misrepresented, among other things, the safety of Celsius’s yield-generating activities, Celsius’s profitability, the long-term sustainability of Celsius’ high rewards rat

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