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Former Celsius CEO arrested, company agrees to pay $4.7 billion settlement
- Federal prosecutors unveiled seven charges against former Celsius CEO Alex Mashinsky and a key executive, Roni Cohen-Pavon, alleging fraud and securities manipulation.
- The SEC announced concurrent charges against Mashinsky and the bankrupt crypto exchange.
- The FTC also announced a $4.7 billion settlement against the exchange, which will not be paid until creditors and investors have been repaid in bankruptcy proceedings.
Former Celsius CEO arrested, company agrees to pay $4.7 billion settlement
Ex-Celsius CEO Alex Mashinsky was arrested on federal securities fraud charges as the FTC announced a $4.7 billion settlement with the bankrupt crypto exchange.
www.cnbc.com