Celsius Founder Sentenced: 12 Years, Pardon Speculation Swirls
Former Celsius Network CEO Alexander Mashinsky received a 12-year prison sentence for defrauding customers. Judge John G. Koeltl cited Mashinsky’s “extremely serious” crimes, which resulted in over $45 million in personal profit while customers suffered devastating financial losses and psychological harm. Mashinsky pleaded guilty to misleading investors about the safety of their investments, concealing risky practices that ultimately led to Celsius’s 2022 bankruptcy. Despite his apology and claims of unintentional harm, prosecutors characterized him as a predator who exploited vulnerable customers’ hope for financial gain.
John Q. Hosedrinker