The founder of Celsius Alex Mashinsky does not receive any assets of the bankruptcy claims of the bankruptcy platform of the Crypto Lending Platform.
Newly submitted judicial documents indicate that Mashinsky has withdrawn his claims in the light of his criminal conviction last month.
Celsius submitted bankruptcy in July 2022 after his native token, cell, fell by 99%and it was unable to fulfill recordings.
Mashinsky was arrested in 2023 and argued guilty of one counting of raw material fraud and one counting of securities fraud in December. The Ministry of Justice (DOJ) said that the founder of Celsius wrongly represented the lender as a safe platform and his potential for profitability exaggerated, so that the user file was considerably blown up.
Last month, an American district judge sentenced Mashinsky to 12 years in prison.
After the conviction, the American lawyer Jay Clayton said that the founder of Celsius pointed retail investors with false promises, used customer funds to place risky bets and benefit tens of millions of dollars, while his customers lost billions.
“The investors of America earn better. The case for tokenization and the use of digital assets is strong, but it is not a license to mislead. The rules against fraud are still applicable, and the SDNY (Southern district of New York) will hold them responsible for their crimes.”
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