Alexander Mashinsky, the former CEO of Celsius Network, was arrested on Thursday on federal fraud charges. The Federal Trade Commission (FTC) alleged that Mashinsky misled customers about key aspects of the business and illegally manipulated the price of Celsius’s proprietary crypto token. The company agreed to pay a $4.7 billion settlement with government regulators, one of the largest in the FTC’s history, and the settlement highlights repeated deceptions by Celsius and Mashinsky. The indictment against Mashinsky is a sign that the government is taking a hard line against crypto-related fraud.
Posts tagged as “Celsius Holdings Inc.”
Flo Rida and his production company, Strong Arm Productions, have been awarded $82.6 million by a South Florida jury after it was found that Celsius Holdings Inc. had breached a contract with the rapper and singer and tried to hide money from him. The lawsuit alleged that Celsius had violated the conditions of an endorsement deal with Flo Rida and his production company. The jury's decision is a victory for Dillard and his production company, who will now receive the full amount of money they were owed.