New York Attorney General’s Office Accuses Former Celsius CEO of Defrauding Investors

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The New York State Attorney General’s Office is suing the former CEO of the Celsius Network crypto lending platform Alex Mashinsky over defrauding investors “for billions of dollars.”

According to the press release:

“Mashinsky has repeatedly made false and misleading statements about the security of Celsius, distorted and covered up the platform’s deteriorating financial condition.”

The prosecutor’s office has demanded from the forme head of the company damages and refunds to customers, as well as a ban on doing business in the state. The report notes that the lawsuit was filed “on behalf of thousands of New Yorkers.”

According to the authorities:

“As the former CEO of Celsius, Alex Mashinsky promised investors financial freedom but led them down the path of financial ruin.”