Celsius Founek Mashinski condemned 12 years in prison for stealing $ 48 million

Alek Mashinski, embarrassed founder of the bankruptcy cryptic borrowing of Celsius, stole 48 million dollars from customers.

The reinforced case of crypt’s fraud has reached its conclusion. On Thursday, May 8, Founder Celsius Alex Mashinski was sentenced to 12 years in prison For its role in the company’s bankruptcy, which costs its users billion.

According to the Prosecution, it is the victim’s victims of thousands of people, many of whom lost their savings of life. At the same time, the embarrassed founder stole more than $ 48 million from Celsius. Mashin pleaded guilty of securities and fraud in Robb.

Mashinski pleads for sympathy

The sentence was lacking from the 20-year-old mandate that requested the Ministry of Justice, which called it fairly sentenced. Mechanically did not agree, and his lawyers, at the foot of 5. Maja described the request of DOJ as Penalty ‘in prison in prison’. They claimed that Mashinski never intended to harm customers or steal their money.

His legal team tried to challenge compassion by pointing out the persecution of his Jewish family was faced in the Soviet Russia and its military service in Israelis defensive forces. However, the judge did not take these factors for consideration during the sentence.

Celsius was a crypto lender who promised high interest as she touted the security of her investment. On some deposits, they gave themselves 17% in the interestmuch greater than a market rate. At its height, the company claimed that she had an estate of 1.7 million users, managed property worth $ 11.7 billion, and she gave $ 8 billion in the loan.

But in 2022. years, as the crypto market faced extreme instability, Celsius operations began to take place. Instead of secure loans, the company hired in a high trading strategy. When markets turned, those positions collapsed, leaving Celsius of insolvent and his savers with billions in losses.