Celsius Network founder Alex Mashinky slammed with civil fraud suit

New York attorney general Letitia James has dished out a civil fraud lawsuit to Celsius Network founder and former chief Alex Mashinsky, accusing him of “using false and misleading representations” to defraud hundreds of thousands of investors. In a complaint filed before the New York Supreme Court, James said Mashinsky was promoting his crypto bank Celsius as a safe alternative to banks, “while concealing that Celsius was actually engaged in risky investment strategies”.