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That they lost money on their outlays (over $1.7 billion in total), that they stupidly found themselves in a position of having to buy CEL on the open market to pay user rewards, that they speculated in decentralized finance (DeFi) expecting to win is almost besides the point. These were
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The United States Attorney for the Southern District of New York and Federal Bureau of Investigation have announced fraud charges against the former CEO of bankrupt crypto lender Celsius, Alex Mashinsky.In a July 13 announcement, the U.S. Justice Department said it had charged Mashinsky with securities fraud, commodities fraud, and
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“In this case, Celsius offered and sold CEL and the Earn Interest Program as securities….. Celsius and Mashinsky never filed a registration statement or had one in effect with the SEC for their offers and sales of securities through the Earn Interest Program,” the complaint said. Source
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The United States’ Securities and Exchange Commission (SEC) is reportedly taking action against Celsius Network, one of the cryptocurrency lending firms that collapsed in 2022.The securities regulator filed a lawsuit against Celsius’ former CEO Alex Mashinsky on July 13, according to a report by Bloomberg. Details of the complaint weren’t
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The former CEO of now-bankrupt crypto lender Celsius, Alex Mashinsky, was reportedly arrested on the morning of July 13. The news broke minutes after the United States Securities and Exchange Commission filed a lawsuit against the crypto lender on the same day.The former CEO was reportedly arrested after a probe into the
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Investigators from the Commodity Futures Trading Commission have reportedly concluded that bankrupt crypto lender Celsius and its former CEO Alex Mashinsky broke U.S. rules before the company collapsed.According to a July 5 report from Bloomberg, citing sources familiar with the matter, the attorneys from the CFTC's enforcement division found that Celsius
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Alex Mashinsky, co-founder and former CEO of bankrupt crypto lending platform Celsius Network, has filed a response to New York Attorney General Letitia James’ suit against him. According to the document, the suit has shortcomings in presenting the facts in the case and its legal argument and should be dismissed.James
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Attorney General Letitia James said Mashinsky misled investors about the health of the now bankrupt crypto lender. Original Source
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“The Complaint would bring claims and causes of action against the Prospective Defendants to return millions of dollars removed from the Celsius platform” in the months before it froze withdrawals, the filing said, adding that it seeks to "recover damages from billions of dollars that were lost by the Prospective
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The official committee of Celsius creditors is proposing to sue Celsius co-founder Alex Mashinsky and other executives for "fraud, recklessness, gross mismanagement and self-interested conduct" that eventually led to the collapse of the crypto lender.In a proposed complaint filed in a New York Bankruptcy Court on Feb. 14, attorneys representing
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