SBF tops long list of crypto hot shots facing legal reckoning

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Alex Mashinsky, the former chief executive of cryptocurrency lender Celsius Network, was arrested in July and charged with wire fraud and other crimes by U.S. prosecutors. He is accused of waging a multiyear scheme to mislead customers before Celsius collapsed with more than $1 billion in debt. Prosecutors also accused him of pumping up the price of his firm’s cryptocurrency to entice customers to the platform so he could line his pockets with tens of millions of dollars. He has pleaded not guilty to the charges. The trial has been set for September 2024. Su Zhu, co-founder of the bankrupt Three Arrows Capital hedge fund, ended up in jail in Singapore last month after liquidators decided to apply maximum pressure following months of sparring over locating the failed company’s assets. The directive that landed Zhu in jail is a Singapore committal order that carried a four-month prison term. Teneo, the liquidator, said in September that it had obtained such orders for Zhu and Three Arrows’ other founder, Kyle Davies. The orders are civil matters and neither man has faced any criminal charges in Singapore.

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