Alex Mashinsky, the Israeli-American CEO and founder of Israeli crypto company Celsius Network, has been sentenced to 12 years in prison for one of the largest cryptocurrency frauds in history. A New York court determined that Mashinsky, who promised investors returns of up to 17%, defrauded thousands of customers and amassed approximately $48 million for himself while the giant company collapsed with a $1.19 billion deficit. According to the indictment, he inflated the company's internal token value and misrepresented investment safety, contributing to the company's collapse in summer 2022.
Israeli crypto company CEO sentenced to 12 years in US for fraud
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