# Alex Mashinsky Gets 12 Years Behind Bars



The crypto world was rocked when Alex Mashinsky, the man who built and ran Celsius Network before it crashed, got slapped with a 12-year prison sentence. Fraud charges. Guilty plea. End of story for the former crypto lending boss.

His legal fate shifted dramatically. The January 2025 trial? Gone. Instead, he stood before U.S. District Judge John Koeltl in Manhattan and admitted to multiple fraud counts. Securities fraud. Commodities fraud. The works.

Prosecutors wanted more. They pushed for at least 20 years, calling it "just punishment" for a man they say victimized thousands. Billions lost. It seems they viewed his actions as particularly egregious - selling Celsius as some kind of "modern-day bank" while running what they characterized as a risky investment fund.

Not the first Celsius exec to fall. Roni Cohen-Pavon already went down in 2023. Admitted to fraud and market manipulation. Part of the same mess.

Kind of surprising to see such a hefty sentence, though not entirely unexpected. Twelve years ranks among the longest prison terms from the 2022 crypto market crash. Regulators aren't playing anymore. Crypto executives beware.
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