Alex Mashinsky Gets Lifetime Crypto Ban in New York Settlement
Mashinsky must pay $25 million to New York if he does not forfeit $10 million to federal authorities, officials said.
- On Friday, New York Attorney General Letitia James announced a settlement with former Celsius CEO Alex Mashinsky, permanently banning him from the securities, commodities, and cryptocurrency industries while securing up to $35 million in potential penalties.
- James sued Mashinsky in 2023, alleging he misled more than 26,000 New Yorkers by promoting Celsius as safer than a bank while concealing risky investment strategies and losses.
- The settlement carries up to $35 million; Mashinsky must pay $25 million if he fails to forfeit $10 million in ill-gotten gains to the federal government, plus $10 million if he does not serve his full prison sentence.
- Mashinsky is currently serving a 12-year federal sentence for securities and commodities fraud, with the Commodity Futures Trading Commission having previously issued permanent trading bans that remain in effect alongside this state-level action.
- Celsius customers and creditors have received more than $3.4 billion through bankruptcy proceedings as of August, while James stated she will not allow scammers to use cryptocurrencies to prey on unsuspecting New Yorkers.
26 Articles
26 Articles
Alex Mashinsky gets lifetime crypto ban in New York settlement
Former Celsius CEO Alex Mashinsky has agreed to a lifetime ban from the cryptocurrency, securities, and commodities industries under a New York settlement carrying up to $35 million in conditional payments. New York Attorney General Letitia James announced the agreement…
Cointelegraph
The New York LedgerNY AG Secures Up to $35M in Celsius Founder Alex Mashinsky Settlement
New York AG Letitia James secures a permanent industry ban against Celsius founder Alex Mashinsky, with up to $35 million in payments tied to federal conditions.
New York Attorney's Office Agrees to Disable Celsius Founder for Deceiving Investors · Global Voices
New York City, Oct. 9 (EFE).- New York Attorney General Letitia James announced this Friday an agreement that permanently disqualifies the co-founder and former executive director of Celsius, Alex Mashinsky, to operate in the securities, raw materials and cryptocurrencies sectors, and that contemplates payments of up to $35 million. In 2023, the Prosecutor’s Office [...] New York’s Prosecutor’s office agrees to disqualify Celsius’ founder from c…
Economy: An agreement has been announced with Celsius's founder, Alex of the Israeli-American businessman, who was accused of multi-billion-dollar fraud against investors.
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