New York AG accuses Celsius ex-CEO Alex Mashinsky of defrauding hundreds of thousands of crypto investors in $20 billion collapse
Publishing timestamp: 2023-01-05 16:06:13
Summary
New York Attorney General Letitia James has sued former Celsius Network CEO Alex Mashinsky, alleging that he defrauded hundreds of thousands of investors out of billions of dollars at the now-bankrupt cryptocurrency exchange. The suit seeks to bar Mashinsky from working in the securities industry or as an executive in New York state and to compel him to disgorge assets. The complaint alleges that Mashinsky made false and misleading statements to hide the extent of Celsius' exposure to the crash of cryptocurrencies Terra and Luna, leaving investors bereft and some considering suicide.
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Keywords: investment strategy, fintech, cryptocurrency, cryptocurrency exchanges, business news, technology, letitia james, ftx token/usd coin metrics, new york, bankruptcy figures,