{"id":23461,"date":"2025-04-28T09:39:56","date_gmt":"2025-04-28T06:39:56","guid":{"rendered":"https:\/\/forklog.com\/en\/celsius-creditors-demand-life-sentence-for-alex-mashinsky\/"},"modified":"2025-04-28T09:39:56","modified_gmt":"2025-04-28T06:39:56","slug":"celsius-creditors-demand-life-sentence-for-alex-mashinsky","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/celsius-creditors-demand-life-sentence-for-alex-mashinsky\/","title":{"rendered":"Celsius Creditors Demand Life Sentence for Alex Mashinsky"},"content":{"rendered":"

Among the more than 200 victims of the Celsius collapse, many have called for a life sentence for the company’s founder, Alex Mashinsky, according to Bloomberg<\/a>.<\/p>\n

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\u201c[Mashinsky] was aware of his actions and destroyed many lives. [\u2026] He should face punishment similar to Bernie Madoff<\/a> and be sentenced to life imprisonment,\u201d emphasized an investor who reported losing 1.5 BTC.<\/p>\n<\/blockquote>\n

Another victim believes the case is \u201ccrucial for restoring faith in the justice system.\u201d<\/p>\n

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\u201cI eagerly await the day when [the founder of Celsius] burns in hell,\u201d wrote a user who declared a loss of about $150,000.<\/p>\n<\/blockquote>\n

73-year-old retired teacher Steven Levenberg recounted becoming a Celsius supporter after meeting Mashinsky in 2019. He and his wife sold their apartment and invested the proceeds in the gold-backed coin PaxGold, entrusting their assets to Celsius for safekeeping.<\/p>\n

\n

\u201cWe lost nearly $400,000, including what was left for a nursing home. Then came very dark days, nights, weeks, and months. My wife and I managed to stay together, although it was entirely my fault for investing so much in Celsius, against her intuition,\u201d noted Levenberg.<\/p>\n<\/blockquote>\n

The elderly teacher added that he considers a life sentence a fair punishment but would be satisfied with three years of imprisonment for the Celsius founder if all investors are compensated for their losses.<\/p>\n

In December 2024, Mashinsky pleaded<\/a> guilty to commodities fraud and manipulation of the CEL token prices:<\/p>\n

\n

\u201cI said that Celsius had received approval from regulators. That was a lie. I lied about not selling my CEL tokens. I take full responsibility for my actions.\u201d<\/em><\/p>\n<\/blockquote>\n

The judge accepted the plea. Preliminary estimates suggest the Celsius founder faces up to 30 years in prison.<\/p>\n

Sentencing for Mashinsky is scheduled<\/a> for May 8. Initially, the hearing was set for April 8, but his lawyers requested a postponement to gather additional materials.<\/p>\n","protected":false},"excerpt":{"rendered":"

Among the more than 200 victims of the Celsius collapse, many have called for a life sentence for the company’s founder, Alex Mashinsky, according to Bloomberg. \u201c[Mashinsky] was aware of his actions and destroyed many lives. [\u2026] He should face punishment similar to Bernie Madoff and be sentenced to life imprisonment,\u201d emphasized an investor who […]<\/p>\n","protected":false},"author":1,"featured_media":23460,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1348,1162,26],"class_list":["post-23461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-celsius-network","tag-court-cases","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23461","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=23461"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23461\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/23460"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=23461"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=23461"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=23461"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}