Ex-Celsius CEO is charged with fraud | CNN Business

An indictment unsealed Thursday in New York charges Alexander Mashinsky with securities fraud, wire fraud and commodities fraud. Mashinsky and Roni Cohen-Pavon, Celsius’ chief revenue officer, were also charged with multiple counts of manipulating the price of the platform’s native crypto token, CEL, while they were offloading their own tokens at inflated prices.

He has pleaded not guilty and is expected to stand trial in October. In the fallout of FTX, US regulators have accused Binance and Coinbase, two of the world’s biggest crypto platforms, of running illegal exchanges. Damian Williams, the US attorney for the Southern District of New York, said Thursday the latest indictment represents “another significant step in our drive to root out corruption in the crypto economy.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Former Celsius CEO arrested, company agrees to pay $4.7 billion settlementThe exchange was charged by the SEC and CFTC with scheming to defraud investors out of billions. Earlier this year, New York prosecutors accused Mashinsky of orchestrating a $20 billion fraud against investors.
Source: NBCNews - 🏆 10. / 86 Read more »

This CEO replaced 90% of support staff with an AI chatbot | CNN BusinessThe chief executive of an Indian startup laid off 90% of his support staff after the firm built a chatbot powered by artificial intelligence that he says can handle customer queries much faster than his employees.
Source: CNN - 🏆 4. / 95 Read more »