The founder and former CEO of the failed cryptocurrency lending platform Celsius Network has been arrested on federal fraud charges alleging that he schemed to defraud customers by misleading them about key aspects of the business
NEW YORK — — The founder and former CEO of the failed cryptocurrency lending platform Celsius Network was arrested Thursday on federal fraud charges alleging that he schemed to defraud customers by misleading them about key aspects of the business.
The indictment alleges that Mashinsky promoted Celsius through media interviews, his Twitter account and Celsius's website, along with a weekly “Ask Mashinsky Anything” session broadcast posted to Celsius's website and YouTube channel. Mashinsky's false portrayal of Celsius as a safe and secure institution caused its customer base to grow exponentially through a large number of retail investors, the indictment says.
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