Alexander Mashinsky , 58, of Manhattan, entered the plea in New York federal court to commodities and securities fraud. He admitted illegally manipulating the price of Celsius’s proprietary crypto token while secretly selling his own tokens at inflated prices to pocket about $48 million before Celsius collapsed into bankruptcy in 2022. In court, he admitted that in 2021 he publicly suggested there was regulatory consent for the company's moves because he knew that customers “would find false comfort” with that. And he said that in 2019, he was selling the crypto tokens even though he told the public that he was not. He said he knew customers would draw false comfort from that too. “I accept full responsibility for my actions,” Mashinsky said of crimes that stretched from 2018 to 2022 as the company pitched itself to customers as a modern-day bank where they could safely deposit crypto assets and earn interest. U.S. Attorney Damian Williams said in a release that Mashinsky “orchestrated one of the biggest frauds in the crypto industry” as his company's assets purportedly grew to about $25 billion at its peak, making it one of the largest crypto platforms in the world. He said Mashinsky used catchy slogans like “Unbank Yourself” to entice prospective customers with a pledge that their money would be as safe in crypto accounts as money would be in a bank. Meanwhile, prosecutors said, Mashinsky and co-conspirators used customer deposits to fund market purchases of the Celsius token to prop up its value. Machinsky made tens of millions of dollars selling his own CEL tokens at artificially high prices, leaving his customers “holding the bag when the company went bankrupt,” Williams said. An indictment alleged that Mashinsky promoted Celsius through media interviews, his social media accounts and Celsius’ website, along with a weekly “Ask Mashinsky Anything” session broadcast that was posted to Celsius’ website and a YouTube channel. Celsius employees from multiple departments who noticed false and misleading statements in the sessions warned Mashinsky, but they were ignored, the indictment said. A plea agreement Mashinsky made with prosecutors calls for him to be sentenced to up to 30 years in prison and to forfeit over $48 million, which is the amount of money he allegedly made by selling his company's token. Sentencing was scheduled for April 8.Brett Vance, Test Pilot and Host of 'Jet Jockeys,' Takes on Current Leadership Challenges and Lessons From the Field
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Even with access to blockbuster obesity drugs, some people don't lose weightAn on-field interaction between a UW-Madison Police officer and a Nebraska football assistant coach after Saturday's game was a "misunderstanding" that ended in an apology, a police spokesperson said. Lt. Adam Boardman, one of the UWPD officers escorting University of Wisconsin coach Luke Fickell to the locker room amid fans rushing the field after a 44-25 Huskers victory, turned away to grab Nebraska offensive line coach Donovan Raiola by the arm, video posted to social media showed. That followed an apparent exchange of words between Raiola and Fickell and Badgers assistant offensive line coach Casey Rabach, who were walking in opposite directions. The context of the discussion wasn't apparent from the video, but Fickell and Raiola both pointed at the other, and Rabach later pointed at Raiola. Boardman and Raiola talked for about 15 seconds after Boardman pried Raiola away from a hug with Nebraska running backs coach EJ Barthel. People are also reading... Recap: Here's how Joey Graziadei will win 'Dancing with the Stars' They fell in love with Beatrice. So they opened a store in downtown. At the courthouse, Nov. 23, 2024 Search warrants lead to arrest of man in narcotics investigation No change in bond amounts in child abuse death case Clabaugh family presents Outstanding Educator award Harmonizers to perform Courthouse lighting ceremony planned for Sunday Kidnapping in Nebraska prompted police chase that ended with 3 dead on I-29 in Missouri Inside Nebraska volleyball’s finishing kick for a Big Ten title: First up, Wisconsin Zitel bound over to district court in death of child Just Askin': Dana Holgorsen noncommittal on future, ranking a big week for Nebraska Athletics Streaming review: 'Landman' gives Billy Bob Thornton a real gusher of a series Amie Just: Bring out the tissues — and the brooms — for Nebraska volleyball's emotional win At the courthouse, Nov. 16, 2024 UWPD spokesperson Marc Lovicott said it was a "misunderstanding amid a pretty chaotic scene." He said Boardman made contact with an "unknown individual who had approached" Badgers coaches as they were leaving the field. "Once it was confirmed that the individual was a member of the Nebraska coaching staff, the UWPD officer apologized for the misunderstanding," Lovicott wrote in an email Tuesday. "The interaction concluded cordially with a handshake." Lovicott said UW Police has made contact with counterparts at Nebraska "and they're also considering it a misunderstanding." Raiola played for Wisconsin from 2002 to 2005. "I don't want speculate without knowing, obviously Donny went to Wisconsin, so I don't know if there was some history there with somebody or something," said Nebraska coach Matt Rhule, who said he was shown video of the incident Monday. "When I asked Donny about it, he was like, 'No big deal.' Things happen after games and people are emotional, but he seemed to kinda brush it off." Fickell said he didn't know much about the interaction when he was asked about it at his weekly news conference Monday. "I mean, I don't know if he was talking to Casey, somebody said something, I don't know," Fickell said. "I just said it looked like maybe he said something to me, but I had no idea. And I had no idea that that was even something. So if it was, I didn't spend a whole lot of time thinking about it." — Lincoln Journal Star reporter Luke Mullin contributed to this report. Get local news delivered to your inbox!
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