Celsius former CEO reaches settlement with New York Attorney General: facing up to $35 million in compensation and a permanent industry ban

New York Attorney General Letitia James announced that a settlement has been reached regarding former Celsius CEO Alex Mashinsky's alleged fraud against investors, securing a maximum conditional compensation of $35 million and requiring him to permanently exit the securities, commodities, and cryptocurrency industries.

Previously, the Federal Trade Commission (FTC) and the Commodity Futures Trading Commission (CFTC) had also imposed industry bans on Mashinsky. Mashinsky is currently serving a 12-year prison sentence. On the other hand, Celsius creditors have received over $3.4 billion in payments through the company's bankruptcy proceedings.