Alex Mashinsky, founder and former chief executive of Celcius, was arrested on Thursday for defrauding customers and lying about his business model.
Prosecutors accuse Mashinsk of misleading customers into believing that Celcius was a profitable and safe place to invest when it was a bankrupt cryptocurrency firm.
Mr. Mashinsky was arrested at his home in New York, which charges wire fraud and manipulation of securities prices.
Roni Cohen-Pavon, CRO of Celsius was also prosecuted on accounts of price manipulation and wire fraud, amongst other offenses.
No responses yet