{"id":342178,"date":"2023-07-13T14:25:29","date_gmt":"2023-07-13T13:25:29","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=342178"},"modified":"2023-07-13T14:26:53","modified_gmt":"2023-07-13T13:26:53","slug":"celsiuss-mashinsky-arrested-sec-files-securities-fraud-charges","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/celsiuss-mashinsky-arrested-sec-files-securities-fraud-charges\/","title":{"rendered":"Celsius&#8217;s Mashinsky arrested, SEC files securities fraud charges &#8211; reports"},"content":{"rendered":"<p>Alex Mashinksy, the co-founder and former CEO of bankrupt crypto lender <a href=\"https:\/\/cryptoslate.com\/companies\/celsius-network\/\">Celsius<\/a>, was arrested during the early hours of today, according to a July 13 Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-13\/sec-files-lawsuit-against-celsius-network-alex-mashinsky#xj4y7vzkg\">report<\/a>, citing people familiar with the matter.<\/p>\n<p>The U.S. Securities and Exchange Commission (SEC) has also filed securities fraud charges against Mashinsky and Celsius, according to July 13 <a href=\"https:\/\/www.courtlistener.com\/docket\/67604348\/1\/securities-and-exchange-commission-v-celsius-network-limited\/\">court filings<\/a>. The regulator alleges that:<\/p>\n<blockquote><p>&#8220;Defendants falsely promised investors a safe investment with high returns through its \u201cEarn Interest Program,\u201d they misled investors about the financial success of Celsius\u2019s business, and they fraudulently manipulated the price of Celsius\u2019s own crypto asset security\u2014the so-called \u201cCEL\u201d token.&#8221;<\/p><\/blockquote>\n<p>Earlier in the month, reports <a href=\"https:\/\/cryptoslate.com\/cftc-to-find-celsius-and-former-ceo-mashinsky-violated-us-rules-bloomberg-reports\/\">emerged<\/a> that investigators with the Commodity Futures Trading Commission (CFTC) found that Celsius Network violated U.S. regulations before its bankruptcy. The report suggested legal proceedings could commence against Celsius and Mashinsky this month.<\/p>\n<p>Celsius filed for bankruptcy last year amid a market downturn that led to the collapse of several crypto-related firms. Since then, the bankrupt firm has attempted to recoup funds and stabilize its financial situation. The lender filed a <a href=\"https:\/\/cryptoslate.com\/celsius-files-lawsuit-to-recover-150m-crypto-assets-from-stakehound\/\">lawsuit<\/a> against the staking platform, StakeHound, and has been authorized to convert its altcoin holdings to Bitcoin (<a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a>) and Ethereum (<a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">ETH<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alex Mashinksy, the co-founder and former CEO of bankrupt crypto lender Celsius, was arrested during the early hours of today, according to a July 13 Bloomberg report, citing people familiar with the matter. The U.S. Securities and Exchange Commission (SEC) has also filed securities fraud charges against Mashinsky and Celsius, according to July 13 court [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":342185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77901,76799,60793],"tags":[77137,74981],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Celsius&#039;s Mashinsky arrested, SEC files securities fraud charges - reports<\/title>\n<meta name=\"description\" content=\"Celsius former CEO Alex Mashinsky has been arrested and the U.S. Securities and Exchange Commission has filed charges against him.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/celsiuss-mashinsky-arrested-sec-files-securities-fraud-charges\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Celsius&#039;s Mashinsky arrested, SEC files securities fraud charges - reports\" \/>\n<meta property=\"og:description\" content=\"Celsius former CEO Alex Mashinsky has been arrested and the U.S. Securities and Exchange Commission has filed charges against him.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/celsiuss-mashinsky-arrested-sec-files-securities-fraud-charges\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-13T13:25:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-13T13:26:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/07\/celsius-alex-mashinsky.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/celsiuss-mashinsky-arrested-sec-files-securities-fraud-charges\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/celsiuss-mashinsky-arrested-sec-files-securities-fraud-charges\/\"},\"author\":{\"name\":\"Oluwapelumi Adejumo\",\"@id\":\"https:\/\/cryptoslate.com\/#\/schema\/person\/b333928a322ba4c082e8bb2ad0f14eb6\"},\"headline\":\"Celsius&#8217;s Mashinsky arrested, SEC files securities fraud charges &#8211; 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