According to The Block, the Federal Trade Commission filed a $4.7 billion judgment against former Celsius CEO Alex Mashinsky on Tuesday (April 28), with most of the penalty suspended. Mashinsky must pay $10 million in restitution unless additional undisclosed assets or financial misstatements are discovered. The FTC permanently banned him from advertising, marketing, or distributing any products involving asset deposits, exchanges, or investments. Mashinsky is currently serving a 12-year prison sentence after pleading guilty in December 2024 to commodities fraud and manipulating the price of Celsius’ CEL token.
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