Celsius Investors Urge Severe Punishment for Founder Mashinsky

A slew of disgruntled investors in the failed crypto lender Celsius Network urged a federal judge to throw the book at founder Alex Mashinsky when he is punished next month after admitting to fraud in connection with the 2022 collapse of the company.

Prosecutors on Wednesday submitted more than 200 statements from people who put their money into Celsius, coming from throughout the globe and many different walks of life - including a postal worker in Australia, an M&A banker in Copenhagen and a stuntman in New York. While a few of the investors urged US District Judge John Koeltl to go easy on Mashinsky at his May 8 sentencing, the vast majority asked him to impose the highest possible punishment allowed by law - with some suggesting he spend the rest of his life in prison.