{"id":85360,"date":"2023-10-04T19:38:51","date_gmt":"2023-10-04T16:38:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85360"},"modified":"2025-09-12T22:49:00","modified_gmt":"2025-09-12T19:49:00","slug":"fraud-trial-of-celsiuss-former-ceo-set-for-september-2024","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/fraud-trial-of-celsiuss-former-ceo-set-for-september-2024\/","title":{"rendered":"Fraud trial of Celsius’s former CEO set for September 2024"},"content":{"rendered":"

The criminal fraud trial of Celsius’s former chief executive Alex Mashinsky has been scheduled for September 17, 2024. Bloomberg<\/a> reports.<\/p>\n

According to the agency, during hearings in a U.S. district court, his lawyers signaled a defense strategy, stating they intended to consider whether the cryptocurrency is a security.<\/p>\n

\n\u201cThe law on what constitutes a security is changing,\u201d said defense attorney Robert Frenchman.<\/cite><\/p><\/blockquote>\n

In January 2023, the New York Attorney General accused<\/a> Mashinsky of defrauding investors of billions of dollars. He was arrested<\/a> in July.<\/p>\n

In the same month, the U.S. Department of Justice brought seven more criminal charges<\/a> against the former Celsius chief and the platform, including securities fraud, manipulation of the CEL token price, misleading investors, and conspiracy to defraud customers.<\/p>\n

Mashinsky has pleaded not guilty to all counts. He was later released on $40 million bail. In September, the court ordered to freeze the assets<\/a> of the former Celsius CEO for the duration of the proceedings.<\/p>\n

In June 2022 Celsius paused withdrawals<\/a>, exchanges and transfers between accounts due to extreme market conditions.<\/p>\n

After the bankruptcy filing<\/a> in Celsius, the company reported a \u201chole\u201d in its balance sheet of $1.2 billion<\/a>. In August it emerged that the company\u2019s liabilities exceeded its assets by $2.85 billion<\/a>.<\/p>\n

In September, Alex Mashinsky left<\/a> his post as chief executive.<\/p>\n","protected":false},"excerpt":{"rendered":"

The fraud case against Celsius’s former CEO Alex Mashinsky is set for September 17, 2024.<\/p>\n","protected":false},"author":1,"featured_media":85361,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1348,1162,26],"class_list":["post-85360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-celsius-network","tag-court-cases","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=85360"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85360\/revisions"}],"predecessor-version":[{"id":85362,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85360\/revisions\/85362"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/85361"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=85360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=85360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=85360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}