Mashinsky charged by DoJ, CFTC, SEC, and FTC year on from Celsius bankruptcy
Alex Mashinsky , the former Celsius Network CEO, has reportedly been arrested and indicted today by the Department of J US tice (DoJ) for wire fraud, market manipulation, commodities fraud, and securities fraud. Former Celsius chief revenue officer Roni Cohen-Pavon was indicted alongside Mashinsky. Mashinsky and Celsius Network were also sued today by the Securities and Exchange Commission (SEC), the Commodities Futures Trading Commission (CFTC), and the Federal Trade Commission (FTC). This comes exactly one year after the company filed for bankruptcy . The criminal indictment claims that Mashinsky and Cohen-Pavon engaged in a scheme to raise the price of CEL, the token issued by Celsius. It’s alleged that Mashinsky misrepresented the solvency, safety, and success of Celsius Network to investors and that both Mashinsky and Cohen-Pavon used hundreds of millions of dollars to purchase CEL in order to artificially inflate the price. This allowed them to cash out their own hold...