Alex Mashinsky, Founder and Former CEO of Celsius, Pleads Guilty to Fraud
Alex Mashinsky, the founder and one-time CEO of bankrupt crypto lending platform Celsius Network, pleaded guilty to two counts of fraud on Tuesday afternoon, according to reports from Reuters and Inner City Press. He has reportedly agreed to a maximum sentencing guideline of 360 months, or 30 years, in prison.
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Celsius Network's second $127M distribution to creditors raises recovery rate to 60.4% amid ongoing bankruptcy proceedings.
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