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Ex-Celsius CEO Mashinsky's Assets Ordered Frozen by Court as DOJ Case Continues
Corporate bank accounts and a Texas property are now untouchable after the former executive’s July arrest.
Updated Sep 6, 2023, 2:40 p.m. Published Sep 6, 2023, 2:40 p.m.
Banking and real estate assets of former Celsius chief Alex Mashinsky have been ordered frozen as a criminal case against him advances, according to court documents unsealed Tuesday.
In July, Mashinsky, who also co-founded the lending platform, was arrested under multiple counts including securities fraud and manipulation of the company’s CEL token. He has pleaded not guilty to what his lawyers describe as “baseless” charges.
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On August 16, New York Judge Jed Rakoff issued an edict forbidding financial institutions from selling assets in a number of Goldman Sachs bank accounts held in the name of the Koala LLC company and a residential property in Austin, TX, the filing said.
That order has now been unsealed, after initially being kept secret given fears the accounts could be drained before being frozen.
Mashinsky was released on a $40 million bond in July. Prosecutors have said they’ll need six to eight weeks to gather evidence, including from Mashinsky’s online videos in which he’s alleged to have misled investors.
The creditors of Celsius, a crypto company toppled in July 2022 as the crypto winter set in, are currently voting on whether to sell assets to buyer consortium Fahrenheit, as part of a plan that could see them finally regain access to some of their holdings.
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