According to an FTC filing on Tuesday (April 28), the Federal Trade Commission entered a $4.7 billion judgment against former Celsius CEO Alex Mashinsky, with most of the amount suspended. Mashinsky is required to pay $10 million unless he failed to disclose material assets or made misstatements about his financial condition. The FTC permanently banned him from advertising, marketing, or promoting any product involving deposit, exchange, or investment of assets. The order was filed in U.S. District Court for the Southern District of New York. Mashinsky is currently serving a 12-year prison sentence after pleading guilty to commodities fraud related to Celsius’ 2022 collapse.
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