This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
Alex Mashinsky, founder of failed crypto lender Celsius Network, has been sentenced to 12 years in prison for defrauding investors and misusing customer funds. The court found he personally profited $45M while leaving thousands financially devastated. This marks one of the harshest penalties in crypto’s 2022 collapse.
- Judge branded Mashinsky's actions as 'extremely serious' after he siphoned $45M from customers
- Celsius hid $4.7B in liabilities while offering unsustainable double-digit yields
- Case reveals 250+ victims died before seeing any restitution payments
📎 Related coverage from: crypto-news-flash.com