On the 8th (local time), The Block cited a report from Inner City Press, a media outlet specializing in internal court coverage, stating that the U.S. District Court for the Southern District of New York had indicted former Celsius CEO Ares on the same day.
Kus Mashinsky was sentenced to 12 years in prison for what has been described as one of the largest cryptocurrency frauds in history.
Judge John George Koeltl said: "Many people have lost their life savings and suffered serious mental health problems.
Mashinsky was arrested in 2023 and charged with product fraud and fraud related to price manipulation of the company's own token, CEL, in December last year.
He was also indicted on seven other criminal counts, including securities fraud and wire fraud. Prosecutors said Mashinsky had provided false information about Celsius' profitability and operating practices.
The prosecution sought a 20-year prison sentence, accusing Mashinsky of deceiving customers and causing enormous damage, while Mashinsky's side sought a lenient sentence of less than 366 days in prison.
Ahead of the verdict, Mashinsky's lawyer traveled to the court to ask for permission to attend his daughter's wedding in Memphis, Tennessee, later this month.
The prosecution also made it clear that they would not oppose travel permission under the conditions of voluntary incarceration, and Mashinsky was therefore sentenced to voluntarily report to prison until September 12.
2025/05/09 17:47 KST
Copyright(C) BlockchainToday wowkorea.jp 117