Ex-Celsius CEO Alex Mashinsky Charged With Crypto Fraud (1)

Former Celsius Network Ltd Chief Executive Officer Alex Mashinsky was accused by US prosecutors of pumping up the price of his firm’s cryptocurrency to entice customers to the platform — all so he could line his pockets to the tune of $42 million.

Mashinsky, who was arrested and charged with wire fraud and other crimes, waged a yearslong scheme to mislead customers before Celsius collapsed last year with more than $1 billion in debt, according to prosecutors. He pleaded not guilty at a hearing Thursday in New York.

Alex Mashinsky, center, leaves court in New York on Thursday.

Photographer: Yuki Iwamura/Bloomberg

Celsius was one of several high-profile crypto firms that imploded last ...