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Bankrupt crypto lender Celsius allegedly defrauded investors out of billions
- digianarchist 4y agoAnyone know why there are no criminal charges in the Celsius case?
- DoktorDelta 4y agoCriminal fraud can have incredibly specific requirements vs civil cases like the one that New York's AG is bringing. It's possible that the feds are planning on a larger fraud suit but need time to gather evidence.
- huitzitziltzin 4y agoDid they commit a crime? This is not a trolling question. There is no doubt in my mind they defrauded their investors. But they are not a bank and are not subject to those regulations. IIUC, their terms of service are written in such a way that they became the legal owner of crypto deposited with them. I am no lawyer and certainly I think the founder deserves to go to jail for running what seems to me like a naked Ponzi scheme, but to charge the guy with a crime you need to satisfy certain legal definitions. Probably this is something which just takes time but it may take time because the prosecutor will need a legal theory? I would love to see comments from a lawyer about this.
- alephxyz 4y agoLying to your investors is fraud (look up the NY Martin act) and the evidence against the CEO is damning. https://ag.ny.gov/sites/default/files/mashinsky_complaint.pdf https://ag.ny.gov/sites/default/files/mashinsky_complaint.pd...
- pedalpete 4y agoWas CCN not able to get a photo of Mashinsky to use? Seems strange that they're throwing around more photos of SBF for two reasons. 1) it's like hiding the bad actor, 2) another photo of SBF probably just gets lumped in with "I know about this", rather than getting new attention "is this something I need to know about".
- raffraffraff 4y agoAt this point, "blah blah crypto scam blah blah pyramid scheme blah blah billions lost" seems to be all of crypto. Not that my stock looks any better right now.