The former CEO of Celsius Network is scheduled to appear before a judge for sentencing after pleading guilty to two felony charges in December.
Crypto users are weighing in as Alex Mashinsky, the former CEO of Celsius Network, prepares to stand before a judge on May 8 to face sentencing for commodities fraud and a fraudulent scheme to manipulate the price of the platform’s token.
In a May 2 filing in the US District Court for the Southern District of New York (SDNY), prosecutors released several impact statements from individuals affected by the collapse of Celsius filed after the initial deadline. Though at least one suggested clemency for the former CEO, many told the court about the financial and personal losses caused by the crypto firm filing for bankruptcy, and hinted that Mashinsky should be held accountable for misrepresenting the company.
“Many of the people who participated in this fraud, benefited from this fraud, and potentially orchestrated this fraud will get away with zero legal consequences,” said Daniel Frishberg of Hillsborough County, Florida, in an April 24 statement. “Please do not allow Mr. Mashinsky to be one of those people (such as with probation/house arrest, as some people supporting him have requested). Please throw the book at him.”
