Alexander Mashinsky, the former CEO of the failed cryptocurrency lending platform Celsius Network, has been arrested on federal fraud charges, including wire fraud, according to CNBC.

<div class="block">Alexander Mashinsky, the former CEO of the failed cryptocurrency lending platform Celsius Network, has been arrested on federal fraud charges, including wire fraud, according to CNBC.</div>

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Former Celsius CEO Charged Over Alleged Scheme

Former Ceo Alex Mins. He has been charged with six counts including wire fraud. That's according to C NBC, the charges relate to an alleged scheme to mislead customers about the financial health of his failing crypto business and manipulate Cryptocurrency prices for his own profit. If convicted Minsky and co defendant Ronnie Cohen Paven could face decades in prison. CNBC also reports that Celsius has agreed to pay $4.7 billion to settle with government regulators though it will not be paid until it is able to return what remains of customer assets in bankruptcy proceedings.