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The U.S. Department of Justice is seeking a 20-year prison sentence for Celsius founder Mashinsky.
The U.S. Department of Justice (DOJ) urged the court to sentence Celsius founder and former CEO Alex Mashinsky to 20 years in prison, accusing him of orchestrating fraud that caused nearly $7 billion in customer losses. Mashinsky admitted to misleading customers about the safety of deposits and manipulating the CEL Token for personal gain. Prosecutors emphasized that Mashinsky’s actions were calculated fraud that harmed customer interests and served as a warning for the future of the encryption industry. Sentencing is scheduled for May 8. (CoinDesk)