Alex Mashinsky: founder of bankrupt crypto firm to plead guilty to fraud

Mashinsky, 59, who led Celsius and was charged last year on seven criminal counts, agrees to plead guilty to two

Alex Mashinsky, the founder of bankrupt cryptocurrency lender Celsius Network, said on Tuesday he intends to plead guilty to two counts of fraud.

The former CEO, 59, was indicted in July last year on seven counts of fraud, conspiracy and market manipulation charges. Federal prosecutors in Manhattan said he misled customers of Celsius to persuade them to invest, and artificially inflated the value of his company's proprietary crypto token. He pleaded not guilty later that day.