New York Attorney General Sues Celsius Co-Founder Alex Mashinsky for Crypto Fraud – Bitcoin News

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New York Attorney General Sues Celsius Co-Founder Alex Mashinsky for Crypto Fraud – Bitcoin News
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On Jan. 5, 2023, the state of New York and attorney general Letitia James filed a lawsuit against Celsius co-founder Alex Mashinsky.

“As the former CEO of Celsius, Alex Mashinsky promised to lead investors to financial freedom but led them down a path of financial ruin,”attorney general James. “The law is clear that making false and unsubstantiated promises and misleading investors is illegal. Today, we are taking action on behalf of thousands of New Yorkers who were defrauded by Mr. Mashinsky to recoup their losses.

My office will stay vigilant and ensure that bad actors trying to take advantage of New York investors are held accountable.”this week that ruled the deposits in high-interest-earning accounts belong to Celsius. Judge Martin Glenn, of a New York-based bankruptcy court, said Celsius owns the rights to the funds rather than the customers who deposited the digital assets on the now-defunct lending platform.

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