{"id":143901,"date":"2024-12-04T12:30:27","date_gmt":"2024-12-04T10:30:27","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=143901"},"modified":"2024-12-04T01:03:23","modified_gmt":"2024-12-03T23:03:23","slug":"former-celsius-ceo-pleads-guilty-to-fraud-in-token-manipulation-scheme","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/former-celsius-ceo-pleads-guilty-to-fraud-in-token-manipulation-scheme\/","title":{"rendered":"Former Celsius CEO Pleads Guilty to Fraud in Token Manipulation Scheme"},"content":{"rendered":"

This marks a key moment<\/a><\/strong> in the ongoing legal aftermath of the 2022 crypto market crash.<\/p>\n

Mashinsky has acknowledged manipulating the value of Celsius\u2019s CEL token, which allegedly attracted investors and helped him personally profit by $42 million. At a court hearing in Manhattan, he confirmed he would plead guilty to two counts: commodities fraud and a scheme to artificially inflate CEL\u2019s price. The most serious charge could carry up to 20 years in prison.<\/p>\n

Celsius\u2019s bankruptcy was one of the first signs of the crypto market\u2019s troubles, following other major failures like the collapse of FTX. Mashinsky\u2019s actions, including misleading customers and orchestrating trades to boost CEL\u2019s value, are central to the charges. Investigations suggest the company spent vast amounts, sometimes using customer funds, to manipulate CEL\u2019s market price.<\/p>\n