According to ChainCatcher, citing CoinDesk, Alex Mashinsky, the founder and former CEO of the now-defunct cryptocurrency lending platform Celsius Network, faces the possibility of spending the next 20 years in prison if the sentencing recommendation submitted by the U.S. Department of Justice is adopted by the court.
In the recommendation submitted late Monday, the Department of Justice urged the court to sentence him to 20 years in prison, stating that Mashinsky's crimes were "intentional, premeditated" fraud that caused nearly $7 billion in customer losses and financially devastated thousands of people.
