Order

Celsius

Elon Musk

<div class="insidebitcoins"> 
 <div class="telegrame_cta_content"> 
  <div class="wrap"> 
   <div class="telegrame_cta_content_inr"> 
    <p>Join Our <u>Telegram </u>channel to stay up to date on breaking news coverage</p> 
   </div> 
  </div> 
 </div> 
 <p class="p3">A court ordered the freezing of several bank accounts and properties owned by former Celsius CEO Alex Mashinsky, who faces seven charges of fraud.</p> 
 <p>A Sept. 5 <span class="s1"><span class="s2">court filing</span> ordered the freezing of Mashinsky’s accounts at institutions including Goldman Sachs and Merrill Lynch. The now unsealed order was initially kept secret due to concerns that the accounts could be emptied before they were frozen.&nbsp;</span></p> 
 <p><span class="s1">The former CEO’s home in Austin, Texas, was also restrained under the court’s directive. The property had <span class="s2">already been listed </span>for sale through Zillow for about $2.49 million.</span></p> 
 <p><span class="s1">Cryptocurrency lender Celsius filed for bankruptcy in July 2022 after revealing its liabilities exceeded assets by $1.2 billion.</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">This Austin house is being sold by Alex Mashinsky, founder and CEO of bankrupt crypto company Celsius. He bought it only a year ago.https://t.co/TYbGmYEGq4 pic.twitter.com/7OACiuAwZN</p> 
  <p>— Austin Ideas (@atxideas) August 6, 2022</p> 
 </blockquote> 
 <p></p> 
 <p class="p3"> </p> 
 <h2 class="p4" id="span-class-s1-celsius-co-founder-faces-criminal-charges-span"><span class="s1">Celsius Co-Founder Faces Criminal Charges</span></h2> 
 <p class="p3"><span class="s1">The asset freeze comes as Mashinsky faces criminal charges for allegedly defrauding Celsius investors. In July, federal authorities arrested and charged him with fraud. <span class="s2">They alleged</span> that he deceived investors about Celsius’ financial stability and engaged in risky trading practices.&nbsp;</span></p> 
 <p class="p3"><span class="s1">He was also <span class="s2">accused of selling securities</span> that weren’t properly registered, misleading investors, and falsely presenting the company as a secure alternative to traditional banking, all while personally profiting about $42 million from alleged price manipulation of Celsius’ <span class="s2">native digital currency, CEL.&nbsp;</span></span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">When I interviewed Celsius Founder Alex Mashinsky in 2021 about his crypto business, he tried to downplay the risks he was taking with customer funds.</p> 
  <p>I read his terms of service to him. And he still tried to say it wasn’t true. Now, he’s been arrested and charged with fraud. pic.twitter.com/V4pP95fL26</p> 
  <p>— Zack Guzmán (@zGuz) July 13, 2023</p> 
 </blockquote> 
 <p></p> 
 <p class="p3"><span class="s1">Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission <span class="s2">filed civil lawsuits</span> against Mashinsky.&nbsp;</span></p> 
 <p class="p3"><span class="s1">As the bankruptcy case gained momentum, the Federal Trade Commission decided to postpone a $4.7 billion fine imposed on the company, as these funds were intended to be used to settle claims from creditors.</span></p> 
 <h2 class="p4" id="span-class-s1-prosecution-gathers-evidence-span"><span class="s1">Prosecution Gathers Evidence</span></h2> 
 <p class="p3"><span class="s1">Mashinsky was <span class="s2">granted bail</span> at a sum of $40 million after he pleaded not guilty to what his lawyers describe as “baseless” charges. The prosecution requested six to eight weeks to assemble evidence for their case.</span></p> 
 <h3 class="p3" id="span-class-s1-b-related-articles-b-span"><span class="s1"><b>Related Articles</b></span></h3> 
 <ul class="ul1"> 
  <li class="li6"><span class="s3"><span class="s4">Best Crypto to Buy Now</span></span><span class="s5"><br> </span></li> 
  <li class="li6"><span class="s3"><span class="s4">Details on Federal Charges Brought Against the Founder of Celsius, Alex Mashinsky</span></span><span class="s5"><br> </span></li> 
  <li class="li6"><span class="s3"><span class="s4">Former Celsius CEO Freed on $40 Million Bond, Altcoins Surge Following XRP Ruling: CNBC Crypto World</span></span><span class="s5"><br> </span></li> 
 </ul> 
 <div class="inContentProviderSingle inContentColor--insidebitcoins fc-row"> 
  <div class="inContentProviderSingle--wrapper"> 
   <div class="container"> 
    <div class="row mb-lg-3"> 
     <div class="col-12 col-md-8"> 
      <p class="inContentProviderSingle--title">Wall Street Memes - Next Big Crypto</p> 
     </div> 
     <div class="col-12 col-md-4"> 
      <div class="inContentProviderSingle--rating"> 
       <div class="rating--holder"> 
        <p class="rating--text">Rating</p> 
        <div class="rating--star-container"> 
         <div class="rating--star" style="width: 100%;"></div> 
        </div> 
       </div> 
      </div> 
     </div> 
    </div> 
    <div class="row">  
     <div class="col-12 col-md-12 text-center d-block d-sm-block d-md-none d-lg-none"> 
      <img class="inContentProviderSingle--img mb-3" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20125%2060'%3E%3C/svg%3E" alt="Wall Street Memes" width="125" height="60" data-lazy-src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://insidebitcoins.com/wp-content/uploads/2023/05/wall-street-memes.svg"> 
      <noscript> 
       <img class="inContentProviderSingle--img mb-3" src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://insidebitcoins.com/wp-content/uploads/2023/05/wall-street-memes.svg" alt="Wall Street Memes" width="125" height="60"> 
      </noscript> 
     </div> 
     <div class="col-12 col-md-8"> 
      <ul class="inContentProviderSingle--list"> 
       <li>Early Access Presale Live Now</li> 
       <li>Established Community of Stocks &amp; Crypto Traders</li> 
       <li>Featured on BeInCrypto, Bitcoinist, Yahoo Finance</li> 
       <li>Rated Best Crypto to Buy Now In Meme Coin Sector</li> 
       <li>Team Behind OpenSea NFT Collection - Wall St Bulls</li> 
       <li>Tweets Replied to by Elon Musk</li> 
      </ul> 
     </div>  
     <div class="col-12 col-md-4 d-none d-sm-none d-md-block d-lg-block"> 
      <img class="inContentProviderSingle--img float-right" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20125%2060'%3E%3C/svg%3E" alt="Wall Street Memes" width="125" height="60" data-lazy-src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://insidebitcoins.com/wp-content/uploads/2023/05/wall-street-memes.svg"> 
      <noscript> 
       <img class="inContentProviderSingle--img float-right" src="https://thebittimes.com/image/getimage/?url=https://thebittimes.com/image/getimage/?url=https://insidebitcoins.com/wp-content/uploads/2023/05/wall-street-memes.svg" alt="Wall Street Memes" width="125" height="60"> 
      </noscript> 
     </div> 
    </div> 
    <div class="row"> 
     <div class="col-12 text-center"> 
      <div class="inContentProviderSingle--button">
        Learn More 
      </div> 
      <div class="inContentProviderSingle--disclaimerText"> 
      </div> 
     </div> 
    </div> 
   </div> 
  </div> 
 </div> 
 <div class="telegrame_cta_content"> 
  <div class="wrap"> 
   <div class="telegrame_cta_content_inr"> 
    <p>Join Our <u>Telegram </u>channel to stay up to date on breaking news coverage</p> 
   </div> 
  </div> 
 </div> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/former-celsius-ceo-alex-mashinsky-s-assets-frozen-by-court-order-tbt61913.html">https://thebittimes.com/former-celsius-ceo-alex-mashinsky-s-assets-frozen-by-court-order-tbt61913.html</a></p>

Former Celsius CEO Alex Mashinsky’s Assets Frozen by Court Order

Table of Contents

TheBitTimes

Other articles published on Sep 7, 2023

Persistent macro headwinds could delay Bitcoin bull market — ARK Invest

Croatia launches platform for investment in pig NFTs

FASB Work On New Accounting Rules for Bitcoin By Early 2025

BTC Price Experiencing Pre-Reversal Period In 2019

DKNG Stock Price Prediction: DraftKings Share Price To Reach $50?

Interoperability Protocol Socket Raises $5M Co-Led by Coinbase Ventures and Framework Ventures

Join our free newsletter for daily crypto updates!