Crypto Lender Celsius Appoints CFO Following Predecessor's Arrest

Cryptocurrency lending platform Celsius appointed Rod Bolger, the former chief financial officer of RBC, Canada's largest bank, as its new CFO.

• The appointment will bring Bolger's experience in M&A and initial public offering (IPO) transactions to Celsius, the firm announced Tuesday. He previously held positions at Bank of America and Citigroup.
• CEO Alex Mashinsky has been bulking up his senior management team. Earlier this year Aslihan Denizkurdu was named as chief operating officer, and Tushar Nadkarni joined as chief growth and product officer in November.
• Bolger replaces Yaron Shalem, who was arrested in Tel Aviv in November in connection with Israeli crypto mogul Moshe Hogeg. From January 2014 to March 2018 he worked as chief financial officer for Singulariteam, a venture capital firm launched by Hogeg.
• Shalem was one of seven people arrested in connection with an investigation into Hogeg on grounds of "committing fraudulent offenses in the field of cryptocurrencies, amounting to hundreds of millions of shekels," according to an Israeli police statement at the time.
• Celsius announced on its Twitter account that it had been made aware of a police investigation in Israel involving an employee, who had been suspended immediately. "While this is in no way related to the employee’s time or work at Celsius Network, the employee was immediately suspended," it said.

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