{"id":130504,"date":"2025-05-09T02:32:03","date_gmt":"2025-05-09T02:32:03","guid":{"rendered":"https:\/\/teknomers.com\/en\/alexander-mashinsky-ex-boss-of-the-celsius-platform-sentenced-to-twelve-years-in-prison-for-fraud\/"},"modified":"2025-05-09T02:32:05","modified_gmt":"2025-05-09T02:32:05","slug":"alexander-mashinsky-ex-boss-of-the-celsius-platform-sentenced-to-twelve-years-in-prison-for-fraud","status":"publish","type":"post","link":"https:\/\/teknomers.com\/en\/alexander-mashinsky-ex-boss-of-the-celsius-platform-sentenced-to-twelve-years-in-prison-for-fraud\/","title":{"rendered":"Alexander Mashinsky, ex-boss of the Celsius platform, sentenced to twelve years in prison for fraud"},"content":{"rendered":"<p><\/p>\n<div id=\"\">\n<figure class=\"article__media\"> <picture class=\"article__media\"><source srcset=\" https:\/\/img.lemde.fr\/2025\/05\/08\/0\/0\/4000\/2662\/556\/0\/75\/0\/480aecf_ftp-import-images-1-xbecg2ynkfyy-539f5c5471074e8cbc39c308632953b0-0-a942035ff75c45509a5636f7ef2d9f71.jpg 556w, https:\/\/img.lemde.fr\/2025\/05\/08\/0\/0\/4000\/2662\/600\/0\/75\/0\/480aecf_ftp-import-images-1-xbecg2ynkfyy-539f5c5471074e8cbc39c308632953b0-0-a942035ff75c45509a5636f7ef2d9f71.jpg 600w, https:\/\/img.lemde.fr\/2025\/05\/08\/0\/0\/4000\/2662\/664\/0\/75\/0\/480aecf_ftp-import-images-1-xbecg2ynkfyy-539f5c5471074e8cbc39c308632953b0-0-a942035ff75c45509a5636f7ef2d9f71.jpg 664w, https:\/\/img.lemde.fr\/2025\/05\/08\/0\/0\/4000\/2662\/700\/0\/75\/0\/480aecf_ftp-import-images-1-xbecg2ynkfyy-539f5c5471074e8cbc39c308632953b0-0-a942035ff75c45509a5636f7ef2d9f71.jpg 700w, https:\/\/img.lemde.fr\/2025\/05\/08\/0\/0\/4000\/2662\/800\/0\/75\/0\/480aecf_ftp-import-images-1-xbecg2ynkfyy-539f5c5471074e8cbc39c308632953b0-0-a942035ff75c45509a5636f7ef2d9f71.jpg 800w\" sizes=\"(min-width: 1024px) 556px, 100vw\" alt=\"Alexander Mashinsky quitte le tribunal f\u00e9d\u00e9ral de Manhattan, le 13\u00a0juillet\u00a02023, \u00e0 New York.\" width=\"664\" height=\"443\"><\/source><\/picture> <noscript> <img decoding=\"async\" src=\"https:\/\/img.lemde.fr\/2025\/05\/08\/0\/0\/4000\/2662\/664\/0\/75\/0\/480aecf_ftp-import-images-1-xbecg2ynkfyy-539f5c5471074e8cbc39c308632953b0-0-a942035ff75c45509a5636f7ef2d9f71.jpg\" alt=\"Alexander Mashinsky left the Manhattan Federal Court on July 13, 2023, in New York.\"\/> <\/noscript><figcaption class=\"article__legend\" aria-hidden=\"true\">Alexander Mashinsky left the Manhattan Federal Court on July 13, 2023, in New York.  <span class=\"article__credit\" aria-hidden=\"true\">Lawrence Neumeister \/ AP<\/span>  <\/figcaption><\/figure>\n<p class=\"article__paragraph  \">Almost three years after the implosion of his startup, Alexander Mashinsky, founder and former boss of the Celsius cryptocurrency platform, was sentenced on Thursday, May 8, by a Federal Manhattan judge to twelve years in prison for fraud.<\/p>\n<p class=\"article__paragraph  \">The 59 -year -old man had pleaded guilty, in early December, of fraud on financial titles, which avoided a trial and who made it possible to limit the charges that weighed against him.<\/p>\n<p class=\"article__paragraph  \">The assistant prosecutor Allison Nichols presented Alexander Mashinsky as a financial predator, declaring that he had deceived customers from the start by exaggerating Celsius&#8217; ability to create profits. <em>&#8220;He was fed on hope,<\/em> she said. <em>Mashinsky knew exactly what he was doing: sell hope for these people. \u00bb\u00bb<\/em><\/p>\n<p class=\"article__paragraph  \">The platform offered its customers to place their cryptocurrencies, in exchange for interest, and also to buy the company&#8217;s own digital currency, CEL. According to the accusation, the leaders of Celsius punctuated more than four billion dollars in customer assets to finance, among other things, the operation of the company, make high -risk investments and loans without guarantees.<\/p>\n<p class=\"article__paragraph  \">The former boss was also being prosecuted for manipulating the CEL price, in particular using, without their knowledge, funds deposited by customers to buy the currency and artificially inflate his course.<\/p>\n<section class=\"catcher catcher--favoris\">\n<div class=\"catcher__content\"><span class=\"catcher__title catcher__title--hide\">Read also |<\/span><span class=\"catcher__desc\">    Cryptocurrencies: the former boss of Celsius pursued in court in the United States <\/span> <\/div>\n<p> <button class=\"lmd-btn-icon lmd-btn-icon--primary lmd-btn-icon--m js-lmd-dropdown-favorite-toggler\" aria-expanded=\"false\" aria-haspopup=\"true\" aria-controls=\"lmd-dropdown-favorite\" aria-label=\"Lire plus tard\" data-article-id=\"3305111\" data-position=\"lire aussi\" data-url=\"https:\/\/www.lemonde.fr\/pixels\/article\/2023\/01\/05\/cryptomonnaies-l-ancien-patron-de-celsius-poursuivi-en-justice-aux-etats-unis_6156779_4408996.html\" data-status=\"\"> <span class=\"icon__favorites\"\/> <span class=\"js-btn-icon-tooltip\" aria-hidden=\"true\">Read later<\/span> <\/button> <\/p>\n<\/section>\n<p class=\"article__paragraph  \"><em>&#8220;The interest presented by the use of digital assets is real, but that does not authorize to deceive&#8221;<\/em> Customers commented Jay Clayton, Federal Prosecutor of Manhattan, quoted in a press release.<\/p>\n<h2 class=\"article__sub-title\">More than $ 4.7 billion made inaccessible<\/h2>\n<p class=\"article__paragraph  \">Several victims spoke during the sentence determination hearing. Cameron Crewes, which is part of a committee of victims, called for a <em>&#8220;Severing&#8221;,<\/em> Affirming that nearly 250 victims died before being able to see justice rendered or to be properly compensated for their losses. <em>&#8220;Many people have been wiped out&#8221;,<\/em> he said.<\/p>\n<section class=\"inread  js-services-inread\">\n<p> <span>Follow us on Whatsapp<\/span>  <\/p>\n<p> <a rel=\"nofollow noopener\" href=\"https:\/\/www.whatsapp.com\/channel\/0029Va5zhNKCHDyitjj9ut0u\" class=\"inread__link js-services-inread-link\" target=\"_blank\">  <\/p>\n<p>Stay informed<\/p>\n<p>Find the selection of the editorial staff on our channel<\/p>\n<p>Join<\/p>\n<p> <\/a> <\/section>\n<p class=\"article__paragraph  \">At the top of its popularity, at the end of 2021, Celsius had more than a million customers and claimed more than $ 25 billion in assets invested on the platform. But the crisis which followed the fall in the digital currency Terra (UST), in the spring of 2022, made a wind of panic blow on the cryptocurrency market and resulted in massive withdrawals on several platforms.<\/p>\n<section class=\"catcher catcher--favoris\">\n<div class=\"catcher__content\"><span class=\"catcher__title catcher__title--hide\">Read also:<\/span><span class=\"catcher__desc\">    The Celsius cryptocurrency platform declares itself in bankruptcy <\/span> <\/div>\n<p> <button class=\"lmd-btn-icon lmd-btn-icon--primary lmd-btn-icon--m js-lmd-dropdown-favorite-toggler\" aria-expanded=\"false\" aria-haspopup=\"true\" aria-controls=\"lmd-dropdown-favorite\" aria-label=\"Lire plus tard\" data-article-id=\"3282801\" data-position=\"lire aussi\" data-url=\"https:\/\/www.lemonde.fr\/pixels\/article\/2022\/07\/14\/la-plate-forme-de-cryptomonnaie-celsius-se-declare-en-faillite_6134717_4408996.html\" data-status=\"\"> <span class=\"icon__favorites\"\/> <span class=\"js-btn-icon-tooltip\" aria-hidden=\"true\">Read later<\/span> <\/button> <\/p>\n<\/section>\n<p class=\"article__paragraph  \">Defense attributed the fall of Celsius to a <em>&#8220;Cataclysmic collapse&#8221;<\/em> cryptocurrency markets, and said that the acts of his client <em>\u201cHave never been predatory, exploiting or venal. He never acted with the intention of harming anyone. \u00bb\u00bb<\/em><\/p>\n<p class=\"article__paragraph  \">Taken in the turmoil, Celsius decided, in mid-June 2022, to freeze the assets before depositing the for bankruptcy a month later. At the time, more than $ 4.7 billion had been made inaccessible. According to a stage report published at the end of March, around 93 % of frozen funds were recovered and redistributed to former customers.<\/p>\n<h2 class=\"article__sub-title\">A sector upset by the cryptocurrency crisis<\/h2>\n<p class=\"article__paragraph  \">Before being convicted, Mr. Mashinsky sobbed several times by apologizing to customers and evoking his difficult past when his family had left a small Ukrainian town from the former Soviet Union with the help of the United States when he was 7 years old. Installed in Israel, Alexander Mashinsky served three years in Israeli defense forces as a fighter pilot before coming to America.<\/p>\n<p class=\"article__paragraph  \">He assured that he had <em>&#8220;Never wanted to hurt anyone, after all that this country has done to <\/em>[lui]<em> \u00bb. &#8220;I&#8217;m really sorry&#8221;,<\/em> he said, describing himself as someone <em>&#8220;Who started from nothing&#8221;.<\/em><\/p>\n<section class=\"catcher catcher--favoris\">\n<div class=\"catcher__content\"><span class=\"catcher__title catcher__title--hide\">Read also:<\/span><span class=\"catcher__desc\">  <span class=\"icon__premium\"><span class=\"sr-only\">Article reserved for our subscribers<\/span><\/span>    After the collapse of FTX, cryptocurrency enthusiasts between &#8220;disgust&#8221; and &#8220;confidence in the future&#8221; <\/span> <\/div>\n<p> <button class=\"lmd-btn-icon lmd-btn-icon--primary lmd-btn-icon--m js-lmd-dropdown-favorite-toggler\" aria-expanded=\"false\" aria-haspopup=\"true\" aria-controls=\"lmd-dropdown-favorite\" aria-label=\"Lire plus tard\" data-article-id=\"3299040\" data-position=\"lire aussi\" data-url=\"https:\/\/www.lemonde.fr\/pixels\/article\/2022\/12\/02\/apres-l-effondrement-de-ftx-les-amateurs-de-cryptomonnaies-entre-degout-et-confiance-dans-l-avenir_6152735_4408996.html\" data-status=\"\"> <span class=\"icon__favorites\"\/> <span class=\"js-btn-icon-tooltip\" aria-hidden=\"true\">Read later<\/span> <\/button> <\/p>\n<\/section>\n<p class=\"article__paragraph  \">A series of cryptocurrency actors have been swept away by the 2022 background blade, including FTX, the second largest world exchange platform when it was balart, in November of the same year.<\/p>\n<p class=\"article__paragraph  \">This crisis has caused a consounge for the sector, in search of credibility to attract institutional investors and individuals. It has since been revived by several favorable court decisions and by the coming to power of Donald Trump, determined to pave the way for digital currencies.<\/p>\n<section class=\"catcher catcher--favoris\">\n<div class=\"catcher__content\"><span class=\"catcher__title catcher__title--hide\">Read also |<\/span><span class=\"catcher__desc\">  <span class=\"icon__premium\"><span class=\"sr-only\">Article reserved for our subscribers<\/span><\/span>    Donald Trump&#8217;s great offensive on cryptocurrencies <\/span> <\/div>\n<p> <button class=\"lmd-btn-icon lmd-btn-icon--primary lmd-btn-icon--m js-lmd-dropdown-favorite-toggler\" aria-expanded=\"false\" aria-haspopup=\"true\" aria-controls=\"lmd-dropdown-favorite\" aria-label=\"Lire plus tard\" data-article-id=\"3412665\" data-position=\"lire aussi\" data-url=\"https:\/\/www.lemonde.fr\/economie\/article\/2025\/03\/06\/la-grande-offensive-de-trump-pour-les-cryptodevises_6576803_3234.html\" data-status=\"\"> <span class=\"icon__favorites\"\/> <span class=\"js-btn-icon-tooltip\" aria-hidden=\"true\">Read later<\/span> <\/button> <\/p>\n<\/section>\n<section class=\"author\">\n<p class=\"author__detail\">  <span class=\"author__name\">The world with AP and AFP<\/span>  <\/p>\n<\/section>\n<section class=\"article__reactions\">                      Reuse this content   <\/section>\n<\/p><\/div>\n<p><a href=\"https:\/\/teknomers.com\/en\">Tm-En-1<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alexander Mashinsky left the Manhattan Federal Court on July 13, 2023, in New York. Lawrence Neumeister \/ AP Almost three years after the implosion of his startup, Alexander Mashinsky, founder and former boss of the Celsius cryptocurrency platform, was sentenced on Thursday, May 8, by a Federal Manhattan judge to twelve years in prison for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":130505,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[12548,1049,33779,1794,33778,1690,895,1569,2932,45],"class_list":["post-130504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-alexander","tag-celsius","tag-exboss","tag-fraud","tag-mashinsky","tag-platform","tag-prison","tag-sentenced","tag-twelve","tag-years"],"_links":{"self":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/130504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/comments?post=130504"}],"version-history":[{"count":0,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/posts\/130504\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/media\/130505"}],"wp:attachment":[{"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/media?parent=130504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/categories?post=130504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/teknomers.com\/en\/wp-json\/wp\/v2\/tags?post=130504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}