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CoinVoice has learned that according to Inner City Press, former CEO of the Crypto Assets lending platform Celsius, Alex Mashinsky, has been sentenced to 12 years in prison for cryptocurrency-related fraud. The judge has ordered him to surrender to prison by September 12 at the latest.
Mashinsky (59 years old) has previously pleaded guilty to two charges of commodity fraud and a fraudulent scheme to manipulate the price of the company's native token (CEL). Prosecutors stated he "orchestrated one of the largest frauds in the crypto industry" and had suggested a sentence of 20 years in prison.