New York’s attorney general has sued Celsius Network founder Alex Mashinsky, claiming he defrauded investors out of billions of dollars in digital currency by concealing the failing health of his now-bankrupt cryptocurrency lending platform.Mashinsky persisted in promoting Celsius as a safe alternative to banks, paying interest as high as 17 percent on deposits, while concealing hundreds of millions of dollars of losses in risky investments, according to a complaint filed by Attorney General Letitia James on Thursday.The civil lawsuit seeks to ban Mashinsky from doing business in New York and have him pay damages for violating laws including the state’s Martin Act, which gives James broad power to pursue securities fraud cases.
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