Aleks Mashinski from Celsius’ Criptocurrency Network convicted of 12 years American news

Alek Mashinski, Founder and former Bankruptcy CEO cryptocurrency Lender Celsius Network, was sentenced to 12 years in prison on Thursday after admitting guilt in December to securities and commodity fraud.

The Mashin’s sentence imposed John Koeltl in Manhattan, and among the longest in the criminal case, which follows 2022 in cryptocurrency markets.

Sam Bankman-Friedled FTK The exchange, serves a 25-year prison sentence after being convicted of fraud. The complaint is.

The Federal Prosecutors told Mashinski, 59, seduced to customers about Celsius security and artificially inflated the value of Celsius owner token Cel.

They were looking for a prison period of at least 20 years, calling it “just a penalty” that Mashinski has the victims of thousands of people, and it would have a billion dollars in losses, while the losses more than $ 48 million in personal benefits.

“The case for the tokenization and use of digital property is strong, but it is not a crib permit,” said American lawyer in Manhattan Jay Clayton in the statement.

He was looking for a year and one day in prison, saying he felt a remorse and wanted to do so that the family and former Celsius customers would be. His sentence involves three years of oversight release and a $ 48.4 million feature.

Mashinski lawyers are not immediately available for comment.

Founded in 2017 years, Celsius, based in Hoboken, New Jersey, submitted for Chapter 11 Bankruptcy in July 2022. years, after buyers hurried to withdraw deposits.

Born in Ukraine, Mechanically emigrated his family to Israel and moved to New York after visiting the city in 1988. years.

Cryptocurrency lenders promised easily access to loans and high interest in deposits during the loan tokens institutional investors, hoping to profit from difference.

Celsius offered 17% interest on some deposits, but the balance sheet deficit is 1.19 billion when he requested bankruptcy protection.

Mashinski also faced civil lawsuits by US Securities Commission, US Trade Commission US, US Federal Trade Commissions and lawyers in New York Letetia James.