Representatives of the bankrupt lending firm Celsius Network called by federal prosecutors
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Answer Representatives of the bankrupt lending firm Celsius Network called by federal prosecutors
Today, Saturday, the bankrupt Celsius Network, a cryptocurrency lender, was summoned by US federal prosecutors, according to a statement. to report Financial Times.
A subpoena (a subpoena is an order to bring someone to court) was issued a few days after Celsius Network froze customer accounts in June by a federal grand jury used by the US Department of Justice in Manhattan.
According to the aforementioned source, the bankrupt crypto company Celsius Network has closed the savings of hundreds of thousands of customers.
One Cardano Investor Loses Over $25 Million Due to Celsius Network:
One Cardano investor (ADA) lost more than $25 million due to Celsius Network.Read:What is the “anyswap” project and its digital currency “ANY” and what distinguishes it?
An investor named Hirokado Koji had approximately 60.9 million ADA coins before the lending company went bankrupt.
As Celsius goes through the Chapter 11 bankruptcy process, there are reportedly nearly 30,000 pages of court documents with financial information for 600,000 user accounts.
However, the judge allowed a review of users’ home addresses using their email messages.
According to the Financial Times, the Celsius network has a huge customer assets of $25 billion while promising customers high returns, which it achieves and splits with them by spreading the users’ cryptocurrency to different crypto markets and platforms.
When Celsius filed for bankruptcy in July, it owed about $4.3 billion while it owed about $5.5 billion.
The bankrupt cryptocurrency lender has inquiries from several federal agencies, including the US Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the Federal Trade Commission (FTC).Read:Aircraft maker Boeing joins Hedera Hashgraph’s board of directors
On October 3, company founder Alex Mashinsky withdrew about $10 million.
The Financial Times report indicated that Mashinsky used the money to pay taxes before freezing customer accounts.
A few days later, some reports came in that Celsius CEOs had withdrawn $30 million worth of different cryptocurrencies.
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