Alex Mashinsky pleads not guilty on bail

Celsius Alex Mashinsky

Alex Mashinsky, CEO and founder of Celsius, at PBWS 2022 – ©

The founder of Celsius pleaded not guilty of charges of fraud in the United States. Alex Mashinsky was releasedunder conditionsagainst a surety from 40 million dollars.

Arrested Thursday and charged with fraud by the DOJ, Alexander Mashinskythe former CEO of bankrupt crypto-lending platform Celsius, has pleaded not guiltyreported CNN.

Ukraine-born Israeli-American entrepreneur is also the subject of regulatory proceedings Securities and Exchange Commission and Commodity Futures Trading Commission. He is accused of fraud various types of fraud, including wire fraud and securities fraud.

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Mashinsky adopts the same defense as his counterpart Sam Bankman Fried. The former CEO of the bankrupt stock exchange FTX also refutes the accusations against him.

His lawyer indicated that he ” vehemently denied the allegations“and “looked forward” to defending himself.

At the same time, the judge in charge of the case agreed to release Mashinsky in exchange for a bail of $40 million. The latter is guaranteed by his domicile in New York and the seizure of his bank account.

Several conditions were also set by the judge, such as a ban on traveling or opening a bank account.

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