Celsius Ex-CEO Rejects DOJ’s Call for 20 Years Behind Bars

He described the proposed punishment as a “death-in-prison sentence” and said it was too harsh for his actions.

The US Department of Justice is requesting the court to sentence Mashinsky to at least 20 years when he appears on May 8. The government accuses him of misleading Celsius customers and manipulating the value of the company’s CEL token.

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On May 5, Mashinsky’s lawyers responded that he should not serve more than 366 days. They pointed out that he is a non-violent, first-time offender with over 30 years of clean business history. They also argued that the DOJ had unfairly portrayed him as someone who set out to harm others and steal from them.

His legal team also said the government’s push for such a long sentence was because Mashinsky had refused to agree with the government’s version of events. They said,

Alex is inserted as the scapegoat for every corporate action, every group decision, every unanimous vote, every market fluctuation, and every employee's watercooler speculation.

According to the DOJ, Mashinsky’s guilty plea showed that he had made careful and deliberate choices to lie and steal. They believe the 20-year sentence reflects the seriousness of these actions.

Recently, Alexander Gurevich, who holds both Russian and Israeli citizenship, was arrested and now faces extradition to the US. What happened? Read the full story.