Ex-Celsius CEO Mashinsky Should Get 20 Years in Prison, US Says

Former Celsius Network Chief Executive Officer Alex Mashinsky should get at least 20 years in prison after admitting to fraud in connection with the 2022 collapse of the company, US prosecutors said.

“For his calculated criminal conduct and unrepentant posture, a severe sentence is warranted,” prosecutors said late Monday in a filing with a federal judge in New York.

Disgruntled investors in the failed crypto lender also have urged US District Judge John Koeltl to impose a stiff sentence, with some suggesting the Celsius co-founder should spend the rest of his life in prison.

Mashinsky pleaded guilty to two counts ...