Alex Mashinsky was sentenced to 12 years in prison for Crypto Assets fraud.

According to Bloomberg, Celsius Network founder Alex Mashinsky was sentenced to 12 years in prison for Crypto Assets fraud. Mashinsky pleaded guilty last December, and U.S. District Judge John Koeltl in Manhattan issued the ruling on May 8. Federal prosecutors had originally sought a 20-year sentence, stating that he showed "no remorse" for the fraudulent activities involved.

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