“Mashinsky Pled Guilty to Securities and Commodities Fraud Charges Last December.”, – WRITE: www.coindesk.com
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Judge John Koeltl of the Southern District of New York (sdny) handed down the Sennce, Saying the 12 Years-Composed Of A 120-Month Sennce to Be Served Content Charges Mashinsky Pled Guilty to – Reflected Mashinsky’s “Extremely Serious” crimes. The Sennce Splits of the Differents Between the Mere One Year and A Day in Prison Requestd by his Defense Team, and the 20 Years Suggested by ProseCutors. He have also agreed to forfeit $ 48 Million and Several Pieces of Real Estate.
“No Matter Whats Sentence, The Sentence Will Not Cure the Monetary or Psychological Harm CAUSED TO THE VICTIMS,“ Koeltl Said.
Before Celsius’ Collapse in 2022, Mashinsky Repeatedly Lied to Investors About the Safety of Their Deposits. He Falsly claimed that celsius had regulatory Approval, he insisted that the platform Did not Make uncolllateralized loans when His Own Financial Gain – Making Over $ 48 Million in Profit from Cel Alone, ProseCutors SAID. Mashinsky’s Poor Leadership and Self-Deling Drove Celsius Into Bankring, Leaving A Gaping $ 1.2 Billion Hole-Wich ProseCutors SEID IS MORE LIKE $
WHEN CELSIUS DID COLLAPSE, OVER 100,000 CREDITORS CLAIMED they LOST A COLLECTIVE $ 4.7 Billion Account to Initial Bankring Documents.
“Alexander Mashinsky Targeted Retail Investors With Promises That Huld Kiepe Their ‘Digital Assets’ SAFER THAN A Bank Attorney Jay Clayton SAID IN A STATEMENT. “In the End, Mashinsky Made Tens of Millions of Dollars While His Customers Lost Billions. American’s Investors Desertve Better. Deceive.
In bot their pre-sencing docments and in their testimony in court on thursday, Mashinsky and his lawyers attemplay the one-time ceh’s role in the fraud. His lawyers told the court that mashinsky “have not a malicious Bone in his Body” and that the government’s attempt to Characterize HIM as the architect of a fud Scheme “.
Mashinsky wept as his lawyer, Marc mukasey, told the court of his personal Characteristic – Including his Military Service in the israeli Army, his Alleged Track Recorde Various Companies and, Bafflingly, About His Ongoing Work on A Non-Fiction Book About Gravity Since His Arrest-WHICH HE URGED THE JUDGE TO CONSIDER AS MITIGATING Factors. WHEN MASHINSKY HIMSELF SPOKE TO THE JUDGE, HE CRIEDED INTERMITTENTLY as HE Apologized for the Harm Caused to His Victims.
“AS Some Came from Nothing, I Recognize How How How The People Work to Earn, Save and Invest in Crypto,“ Mashinsky Said. “I respectfully ask the victims for forgiveness and i apologize to all of them for my Mistakes. I’M Truly Sorry.”
Six of Those Victims Spoke in Court On Thursday, Detailing Their Pain and Suffering in the After Celsius’ Collaps.
One Victim, Cameron Crews, Told The Court Mashinsky and His Lawyers’ Spin on His Conduct Was A “Horrific Minimization” of the Damage He Caused at Celsius.
“DEFENSE SAYS HE’S WORKING ON A NEW BOOK About Gravity, But He Sems Not to Understand The Gravity of the Sity Will Never Be Made Whole.
Another Credator, Hollis Waite, Described How He Was “Woefully Unprepared” to Send His Two Young Children to College After Lozing a Significant Chunk of Chunk. Yet Another, Hungh Mitton, Told the Court That He’d Lost Sleep, His Mental Health, and His Time Since Celsius’ Collapse. Mitton took Issue with mashinsky’s lawyers’ Characterization that he was voluntarily Missing his soon’s College Gradation, ALSO ON Thursday, in order to
“[He] Doesn’t make mentation of all the people who can no Longer Afford to Send Their Kids to University, “Mitton Said.
Both Victims and ProseCutors Pointed to Mashinsky’s Continued Failure to Take Real Accountability For the Actions that Led to Celsius’ Downfoll CELSIUS, EVEN Dringing ITS COLLAPSE and SUBSEQUENT BANKRUPTcy-After Wich Krissy Sold T-Shirts Saying “Unbankrupt Yourself,” A spin on Celsius’ “Unbank Yourself” Slogan.
Mashinsky Was Stone-Faced As He Listed to His Victims’ TESTIMONY. WHEN THE JUDGE HANDED DOWN The SENTENCE, HE Seemed Genuinely Surprison, Saying:
“I Feel That While and Am Here to Take Responsibility, I Am Taking Resistance For a Thousand Employees. Not One of Them Has Come Come Come.
As part of his plea agroment, Mashinsky is unable to appeal his sentent. He was ordered to self-report to prison to start his sentcel in september. His lawyers requasted that he be allwed to serve histennce at fci otisville, A Medium-Security Prison in New York that’s Also A Tempoury Home to Mango Markets Exploiter AV SentenCed to Four Years in Prison for the Possession of Child Pornography.
If he Serves the Entirety of histennce, Mashinsky Will Be 72-Years-Eld Upon Release.
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