Celsius

New York Attorney General Letitia James filed a lawsuit against the founder in January, possibly using the Martin Act, a robust state securities statute, to pursue specific claims.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/5900644f88be48428dfef0f766313905.gif" />The Crypto Shop AIRDROP Is Live, Get 3000 EMT Tokens Free &#61; $30 <a href="https://twitter.com/cryptos_shop/status/1688099337069535232" rel="noopener noreferrer nofollow">Join Now</a>New York Attorney General Letitia James can move forward with her civil fraud lawsuit against Alex Mashinsky, the founder and former CEO of the now-defunct crypto lender Celsius Network, according to a judge’s decision in Manhattan state court on Friday.The lawsuit was filed by James in January before Mashinsky faced federal charges. Justice Margaret Chan ruled that the allegations were sufficient, suggesting that Mashinsky committed fraud by misrepresenting Celsius as a safe banking option while concealing its risks, <a href="https://cryptosheadlines.com/ordinals-finance-took-1-million-from-its-users-and-as-a-result-the-value-of-ofi-token-dropped-by-95/" rel="noopener noreferrer nofollow">resulting in losses of hundreds of millions</a> of dollars.<h2 id="header-0">Under Investigation by Multiple Authorities</h2>According to Justice Chan, the “earned interest accounts” offered by Celsius to its clients were considered securities under state law. As a result, New York Attorney General Letitia James may pursue specific claims using the Martin Act, a robust <a href="https://cryptosheadlines.com/coinbase-faces-simultaneous-state-security-regulator-action-amid-sec-lawsuit/" rel="noopener noreferrer nofollow">state securities</a> statute.The judge’s 25-page decision stated that the attorney general’s lawsuit indicates a reasonable inference that the harm experienced by investors resulted, at least in part, from Mashinsky’s <a href="https://cryptosheadlines.com/core-scientific-rejects-4-7-million-claim-from-celsius-alleging-unjust-enrichment/" rel="noopener noreferrer nofollow">alleged misrepresentations made in New York about Celsius</a>‘ financial well-being and investment safety. <a href="https://cryptosheadlines.com/fraud-lawsuit-against-celsius-founder-given-green-light-by-judge/" rel="noopener noreferrer nofollow">Read More...</a>

Fraud Lawsuit Against Celsius Founder Given Green Light by Judge

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