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New court documents reveal that authorities have seized assets and a house from Alex Mashinksy, the former chief executive of bankrupt crypto lending company Celsius.<\/p>\n
According to an unsealed court order, several bank accounts and a Texas home belonging to Mashinksy have been seized<\/a> as the Department of Justice (DOJ) continues its criminal case against Celsius.<\/p>\n The document reveals that Mashinksy\u2019s accounts from Goldman Sachs, Merrill Lynch, First Republic, and SoFi have been frozen by the court, as well as a home in Austin, Texas that was purchased in July 2021.<\/p>\n Though the order was originally given on August 16th, it wasn\u2019t unsealed until August 31st as a means of avoiding third-party interference.<\/p>\n Mashinsky was originally arrested and charged<\/a> with multiple counts of fraud in July alongside Celsius\u2019 chief revenue officer Roni Cohen-Pavon after they were accused of perpetrating schemes involving CEL, the native asset of Celsius Network.<\/p>\n The duo is accused of misleading customers into believing that Celsius was operating as a \u201cmodern-day bank\u201d where investors can earn interest on deposited digital assets. However, they allegedly made risky, leveraged trades with their funds instead.<\/p>\n Mashinsky and Cohen-Pavon are also accused of manipulating the price of CEL, which in turn caused traders to purchase it at an inflated price, a move that financially benefited the defendants.<\/p>\n The charges against the duo include wire fraud, securities fraud, commodities fraud, and market manipulation. If convicted, the defendants face several decades behind bars.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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