Former Celsius CEO Alex Mashinsky sentenced to 12 years in prison for crypto fraud

PANews reported on May 9 that according to Inner City Press, a judge in the US New York Southern District Court sentenced former Celsius CEO Alex Mashinsky to 12 years in prison for goods fraud and manipulating the price of platform token CEL. The prosecution called it "one of the biggest fraud cases in the crypto industry" with the amount involved reaching US$590 million. Masinski admitted that he had misled users during the live broadcast, and his defense request was sentenced to only 366 days without adoption. In addition, he will pay $48 million and confiscate nine assets. He will be imprisoned on September 12 this year at the latest.