Celsius CEO Faces Up to 115 Years in Prison:

According to TheBlock, former Celsius CEO Alex Mashinsky could face up to 115 years in prison. Last Friday, Mashinsky's legal team filed a memo with a New York district court, requesting permission for six former Celsius employees to testify in his criminal trial. These witnesses include former executives like the company's CFO and Chief Revenue Officer.

Mashinsky was arrested in July 2023 for allegedly defrauding customers and misleading them about Celsius' profitability. The Securities and Exchange Commission (SEC) accused Celsius and Mashinsky of raising billions of dollars through fraudulent and unregistered cryptocurrency sales, and manipulating the price of the company's native token CEL.

Mashinsky's lawyers argue in the memo that, as CEO, he relied on information from his experienced professional team and did not intend to harm anyone. They emphasized, "The Government has informed the defense that its 'current position' is that, based on the Sentencing Guidelines, Mr. Mashinsky should be sentenced to 115 years in prison."