Celsius Founder Faces 20 Years for $4.7B Crypto Fraud, Says DOJ

The post Celsius Founder Faces 20 Years for $4.7B Crypto Fraud, Says DOJ appeared first on Coinpedia Fintech News

The U.S. Department of Justice is pushing for a 20-year prison sentence for Celsius founder Alex Mashinsky. Prosecutors allege that Mashinsky orchestrated a deliberate fraud that led to $4.7 billion in user losses. The DOJ claims he misled investors about the safety and profitability of Celsius’s operations, contributing to one of the crypto industry’s biggest …