Founder of Bankrupt Crypto Lender Celsius Network Alex Mashinsky Arrested and Charged With Fraud – The Daily Hodl

Alex Machinsky, the founder of bankrupt crypto lender Celsius, has been arrested and charged with multiple counts of fraud. In a new court document filed on July 11, Mashinksy, alongside Celsius’s chief revenue officer Roni Cohen-Pavon and other employees of the firm, are accused of perpetrating two schemes involving CEL, the native asset of the crypto broker, to defraud customers. Mashinsky, who founded Celsius in 2018, is accused of misleading customers into believing that the company would operate as a “modern-day bank” where customers can earn interest on deposited crypto assets but instead made risky trades with their funds. “Mashinsky