A 12 -year -old prison sentence was issued to Alex Machinski, the founder and former CEO of “Celsius”, after having adopted guilty last December to organize a large -scale fraudulent plan which guarantees misleading investors and manipulated the market value of the “CEL” society.
The southern region of the American prosecutor’s office in New York announced the decision on May 8, where “Machinsky” was found guilty of crimes related to basic products and titles.
The district court judge John Ji published a federal court hall in Manhattan, confirming the accused’s involvement in the supply of a false image of the financial stability of his business and the promise of unacceptable yields.
The accusation said that “Machinsky” took advantage of the confidence of individual investors, saying that their digital assets would be more security than banks, when he took advantage of these assets at risk to obtain personal gains.
The court approved its involvement in the increase in the value of artificially CEL digital currency, then selling a large part of its goods secretly, which enabled it to reach profits of approximately $ 48 million.
Despite the complaint of the accusation of a sentence of up to 20 years, a 12 -year prison was sentenced after Machinsky agreed to give up any right to appeal in the specified framework of the decision, within the framework of his guilt.
The legal proceedings began in 2023 when “Machinsky” was arrested for charges including fraud in securities and basic products, in addition to electronic fraud.
This coincided with the approval of “Celsius” on a regulation of $ 4.7 billion with the Federal Commerce Committee, provided that customer assets are returned.
The cooperation of one of the senior officials of the former company, “Rooney Cohen-Bavon”, which in turn admitted the plan, led to decisive visions that have contributed to supporting the problem.
This decision represents a decisive station in one of the most important criminal cases in the digital financing sector, highlighting the violations committed within a company which was one of the eminent players in the field of loans in coded currencies.
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