Celsius founder Alex Mashinsky pleads guilty in fraud case

Quick Summary:

Celsius, operating under the control of a restructuring team, entered a non-prosecution agreement and agreed to co-operate with the investigation.

Mashinsky was alleged to have personally reaped $42mn in proceeds from sales of CEL while claiming he was continuing to hold it and encouraging investors to do so as well.

Cohen-Pavon was also charged in the case and pleaded guilty last year.

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Article Details

Author / Journalist: Christian Berthelsen

Category: MarketsFinanceInvesting

Markets: United States

Topics: Prosecutors Cohen-pavon Value Guilty Financial Mashinsky Celsius Pleaded Investors Customer Digital

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-03 @ 21:14:03 (1 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 530 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 24102310

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Official Website: ft.com

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