New York · CoinDesk
Ex-Celsius CEO Mashinsky gets U.S. CFTC ban in final resolution with regulator
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The punishments of Alexander Mashinsky, the imprisoned former chief of Celsius until its high-profile collapse, continue with a formal banishment from any ability to seek business with the U.S. Commodity Futures Trading Commission or the trading it oversees.
Key facts
- The CFTC's arrangement, which “permanently restrained, enjoined and prohibited” him from any commodities activity, has been recorded in U.S. District Court for the Southern District of New York
- The punishments of Alexander Mashinsky, the imprisoned former chief of Celsius until its high-profile collapse, continue with a formal banishment from any ability to seek business with the U.S
- Celsius was among the prominent firms collapsing within close proximity of each other, amplifying the destruction of that period
- Mashinsky and Celsius engaged in a scheme to defraud hundreds of thousands of customers by misrepresenting the safety, profitability, and regulatory compliance of Celsius’ digital asset-based
Summary
The disgraced former founder and CEO of a major crypto firm, Celsius' Alexander Mashinsky, has been formally banned from commodities activity as the Commodity Futures Trading Commission wrapped up the years-long case. Mashinsky had already been sentenced to 12 years in prison in connection with his fraud convictions. Commodity Futures Trading Commission or the trading it oversees. The derivatives regulator didn't pile any new fines onto Mashinsky, who previously pleaded guilty to accusations he misled the public about the health of his failing crypto firm as it was imploding, but the agency added an expected registration and trading ban, according to a Thursday statement.