Alex Mashinsky, founder and chief executive officer of Celcius Network Ltd., during a panel session at the Blockchain Week Summit in Paris, France, April 13, 2022.Benjamin Girette | Bloomberg | Getty ImagesNew York Attorney General Letitia James sued former Celsius Network CEO Alex Mashinsky on Thursday, alleging that Mashinsky defrauded hundreds of thousands of investors at his now-bankrupt crypto exchange.Mashinsky publicly assured his customers that investing with Celsius was both safer and more lucrative than leaving their investments in a traditional bank. At one point, deposits at the crypto exchange were valued at $20 billion, according to the complaint. But Mashinsky’s statements were false, James alleges, and became part of the former Celsius CEO’s efforts to hide deep losses on risky crypto-lending investments.”As the former CEO of Celsius, Alex Mashinsky promised to lead investors to financial freedom but led them down a path of financial ruin,” James said in a statement.The attorney general’s office is seeking to fine Mashinsky and l …
