Alex Mashinsky, the dude who used to run Celsius Network Ltd., showed up at court in New York yesterday, May 8, 2025. He copped to two counts of fraud in one of the last cases from the big crypto mess a couple of years back. The dude is 59 years old and pleaded guilty back in December to messing around with commodities and securities fraud in connection to Celsius Network LLC, which was this crypto platform that had $25 billion at its peak. The judge, John George Koeltl, threw the book at him and sentenced him to 12 years in the slammer. Plus, he has to do 3 years of supervised release, shell out a $50,000 fine, and give up $48,393,446.
Not really sure why this matters, but there are some other legal battles heating up. Like, the industrial equipment supplier Devco Corporation is getting sued for selling knock-off Graco products. And Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, are caught up in a securities lawsuit for allegedly messing up a $1 million investment. Then there’s Toronto-Dominion Bank facing a securities class action for supposedly hiding some shady stuff about their compliance and anti-money laundering controls. And Crown Castle International is in hot water for not coughing up $30,000 in utility payments. Oh, and Electrolux Home Products Inc. is getting sued for their refrigerators falling apart.
Seems like everyone’s getting a piece of the legal action these days. Just another day in the world of lawsuits and courtrooms, I guess. So, who’s next in line for a date with the judge? Stay tuned to find out.
