The New York Attorney General's investigation found that Alex Mashinsky falsely promoted Celsius Network as safer than a bank while deploying customer assets in high-risk strategies and concealing the resulting losses

From the articleNew York AG secures up to $35 million from former Celsius CEO Alex MashinskyAlso in New York AG Secures Up to $35M and Industry Ban From Ex-Celsius CEO Alex Mashinsky - Decrypt, New York Permanently Bars Ex-Celsius CEO Mashinsky From Crypto and Securities Industries - Unchained, Celsius' Alex Mashinsky hit with $35M penalty and permanent ban in NY legal settlement