DOJ Seeks 20-Year Sentence for Celsius Founder Alex Mashinsky

Prosecutors have asked a judge to condemn Celsius Network founder Alex Mashinsky to 20 years behind bars.

It comes as investors who lost their savings when the doomed Crypto -money shooter collapsed to spend him in prison for the rest of his life.

In a conviction memo, The US Department of Justice said that he “only had to undergo punishment for his years of lies campaign and self-handling who loses billions and left thousands of victims customers.”

The archiving claims that Mashinsky “was incorrectly displayed how Celsius processed customer deposits, invented the profitability of the company and the money of his customers was handed over to the grace of non -secondary loans and non -known market betting.”

Mashinsky has promised two of the seven fraud counts against him – fraud and conspiracy to manipulate the value of cell tokens.

Justice officers claim that his crimes have caused $ 550 million losses, while personally benefited by more than $ 48 million.

“His crimes were not the product of negligence, naivety or bad luck. They were the result of deliberate, calculated decisions to lie, mislead and steal in the pursuit of personal fortune,” is the memo.

The application further claims that Mashinsky is “working on extensive linguistic acrobatics” in an attempt to avoid responsibility.

According to the Ministry of Justice, a prison sentence of 20 years would reflect the seriousness of his crimes, scare off other fraudsters and be in accordance with the penalties that have been prosecuted to others in comparable cases.

Pointing to the 150-year prison sentence to Bernie Madoff and the 25 years handed over to FTX founder Sam Bankman-Bakken, wrote prosecutors: “Defendants who steal billions of dollars by calculated fraud earns decades, not years, in prison.”

The memo then warned: “Mashinsky’s conviction entry shows that he did not really consider what he did, and he has repented that his schedule unraveled and he was caught. If Mashinsky cannot admit the full reach of his crimes, there is no reasonable insurance that he will no longer be.”

Mashinsky has previously argued that he is worth a lesser punishment than SBF because he has argued guilty – but the judiciary rejects this and claim that there are factors that suggest that he should receive a still strict punishment.

To violation that the founder of Celsius enriched himself to a greater extent, the submission adds: “While Bankman-Friedduur was in his twenties and claimed that his actions were due to youth and inexperience, Mashinsky, who was in the 60s, was indisputably old enough and experienced enough to better value the crimes.”

He will be convicted on 8 May.

Published by Stacy Elliott.