Alleged Crypto Crook Alex Mashinsky to Use Same Lawyers as Convicted Sam Bankman-Fried
According to reports, Alex Mashinsky, the former CEO of collapsed crypto lender Celsius, plans to use the same lawyers as convicted crypto crook Sam Bankman-Fried. This move comes despite potential conflicts of interest. Mashinsky expressed his willingness to waive any conflicts and has chosen Marc L. Mukasey and Torrey K. Young, who previously represented Bankman-Fried. However, Mukasey and Young have not confirmed whether they will continue to represent Mashinsky.
Mashinsky faces seven criminal charges brought by the Department of Justice (DOJ), alleging his involvement in a fraudulent scheme that inflated Celsius’ assets while defrauding customers of $42 million. Celsius was a prominent digital asset brand managing over $25 billion in assets before filing for bankruptcy with liabilities exceeding assets by $1.2 billion.
Additional civil lawsuits from the Securities and Exchange Commission, Commodity Futures Trading Commission, and Federal Trade Commission have been filed against Mashinsky. Meanwhile, Bankman-Fried, the co-founder of FTX, a well-known crypto platform, was convicted of fraud and money laundering charges related to mismanagement of the company.
Hot Take: Similar Legal Representation Raises Eyebrows 🤔
The decision by Alex Mashinsky, the alleged crypto crook behind Celsius’ collapse, to hire the same lawyers as convicted crypto crook Sam Bankman-Fried is raising eyebrows in the industry. While it’s not uncommon for high-profile attorneys to represent multiple clients, this move highlights potential conflicts of interest given their previous involvement in Bankman-Fried’s case.
As Mashinsky faces criminal charges and civil lawsuits from various regulatory bodies, his choice of legal representation could impact his defense strategy and public perception. The outcome of these cases will undoubtedly shape the future of both individuals and serve as a significant milestone in the fight against crypto fraud.
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