Celsius

Coin

<ul class="wp-block-list news-points">
 <li>Celsius founder Alex Mashinsky pleads guilty to two counts of fraud and market manipulation.</li>
 <li>In a December 3 hearing, Mashinsky agreed to a maximum sentencing guideline of 30 years in prison.&nbsp;</li>
 <li>Mashinsky was indicted for misleading customers into investing and inflating the price of the CEL token.</li>
</ul>
Alex Mashinsky, the founder of Celsius Network, just pleaded guilty to fraud and market manipulation. <a href="https://www.reuters.com/technology/celsius-founder-alex-mashinsky-intends-plead-guilty-two-fraud-counts-2024-12-03/#:~:text=As%20part%20of%20his%20plea%20deal%20with%20prosecutors%2C%20Mashinsky%20agreed%20not%20to%20appeal%20any%20sentence%20of%2030%20years%20or%20less%20%2D%20the%20maximum%20he%20faces%20for%20the%20two%20counts.%20Koeltl%20is%20set%20to%20sentence%20him%20on%20April%208%2C%202025.'" target="_blank" rel="noopener noreferrer nofollow">Reuters reports</a> that Mashinsky has agreed not to appeal any sentence of 30 years or less. This is the maximum he faces for the two counts.
Mashinsky was indicted on July 13, 2023, on seven counts of fraud, conspiracy, and <a href="https://coinedition.com/celsius-creditors-recover-60-after-127m-bitcoin-usd-second-payout/" rel="noopener noreferrer nofollow">market manipulation</a> of Celsius’s CEL token. Federal prosecutors in Manhattan said Mashinsky misled investors and artificially raised the price of the CEL token.
<h2 class="wp-block-heading" id="h-mashinsky-admits-to-illegal-actions">Mashinsky Admits to Illegal Actions</h2>
But Mashinsky admitted his illegal actions to US District Judge John Koeltl in Manhattan. He said he misled Celsius customers and raised CEL’s price for personal benefits. Investigative platform Inner City Press shared Mashinksy’s <a href="https://x.com/innercitypress/status/1864050087891984512" target="_blank" rel="noopener noreferrer nofollow">statement</a>:
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “I said that Celsius had approval from regulators. It was false. I falsely said I was not selling …
</blockquote>
The post <a href="https://coinedition.com/celsius-founder-pleads-guilty-faces-fraud-sentencing-in-2025/" rel="noopener noreferrer nofollow">Celsius Founder Pleads Guilty: Faces Fraud Sentencing in 2025</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Celsius Founder Pleads Guilty: Faces Fraud Sentencing in 2025

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