The former CEO of the cryptocurrency lending platform Celsius Network defrauded hundreds of thousands of investors out of hundreds of millions of dollars' worth of cryptocurrency, New York attorney general alleges in a new lawsuit.
Celsius is a cryptocurrency lending platform where investors could deposit their cryptocurrency in return for receiving yield on their deposited assets. Throughout Mashinsky's tenure as CEO he made numerous false and deceptive statements about Celsius' safety, number of users, and investment strategies to recruit investors, the lawsuit said.
Alex Mashinsky appears on stage of the Web Summit 2021 at the Altice Arena in Lisbon, Portugal, Nov. 4, 2021.In hundreds of public appearances, videos, interviews, blog posts and livestreams, Mashinsky asserted that Celsius was safer than a bank, though the attorney general's office noted banks are highly regulated by state and federal agencies and subject to regular and robust examinations. Celsius was not and its customers had no hope of receiving the same protections as banks.
The collapse of Celsius has left many individuals in financial ruin. The lawsuit mentioned a New York resident who mortgaged two properties to invest with Celsius. A disabled veteran lost his investment of $36,000, which had taken him nearly a decade to save up. Another disabled citizen, who depended upon government assistance to supplement his $8 per hour income, lost his entire investment.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
New York State sues former Celsius CEO over alleged cryptocurrency fraud | EngadgetNew York State is suing the former chief of crypto lender Celsius over 'billions' in fraud..
Leer más »
New York City agencies will go green with over 900 new electric vehiclesThe mayor says more than 900 new electric vehicles will replace fossil-fueled cars for agencies across the city.
Leer más »
END GUN VIOLENCE: New Yorkers call for end to 'preventable pandemic' - New York Amsterdam NewsNational Day of Remembrance for Gun-Related Homicide Victims was hosted by gun violence czar Andre “A.T.” Mitchell. Speakers included Williams, Mayor Eric Adams, Brooklyn Borough President Antonio Reynoso and NYPD Commissioner Keechant Sewell.
Leer más »
Quantum Private Equity Scores Again, With Rumored $4.6B Sale Of U.S. Shale Gas Reserves To JapanNew year, new deals for $19 billion private equity shop Quantum EP and CEO Wil VanLoh.
Leer más »
NY, NJ residents moving out in high numbers in 2022. But to where?New Jersey and New York ranked high on United Van Lines' national movers study.
Leer más »
Democrat controlled states see largest number of people moving outHere is where New York and New Jersey rank on the list.
Leer más »