New York Attorney General Letitia James permanently barred former Celsius CEO Alex Mashinsky from the securities, commodities and crypto industries and secured up to $35 million in a settlement. The payments are conditional: Mashinsky must pay New York $25 million if he fails to forfeit an additional $10 million to the federal government, and $10 million if he does not serve his full prison sentence. The former CEO is serving 12 years in federal prison after pleading guilty to fraud, while Celsius collapsed in 2022, defrauding hundreds of thousands of investors, including more than 26,000 in New York. Celsius creditors had received more than $3.4 billion through the company’s bankruptcy proceedings as of August 2026.
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