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On Thursday, former Celsius CEO Alex Mashinsky was arrested for federal securities fraud for misleading investors.

Alexander Mashinsky founded Celsius in 2018.

The founder and former CEO of the failed cryptocurrency lending platform Celsius Network has been arrested on federal fraud charges alleging that he schemed to defraud customers by misleading them about key aspects of the business.

Catherine Falls Commercial/Getty Images(NEW YORK) -- The founder of cryptocurrency lending platform Celsius Network was arrested Thursday on federal charges. Alexander Mashinsky founded Celsius in 2018 and positioned it as a stable, safe alternative t...

Alexander Mashinsky founded Celsius in 2018.

Catherine Falls Commercial/Getty Images(NEW YORK) -- The founder of cryptocurrency lending platform Celsius Network was arrested Thursday on federal charges.

Alex Mashinsky, former CEO of the failed cryptocurrency lending platform Celsius Network, was arrested Thursday on federal securities fraud charges. In an indictment unsealed Thursday by federal prosecutors, Mashinsky faces seven counts of fraud. Roni Cohen-Pavon, Celsius’s former chief revenue officer, is charged as a co-conspirator, according to the Justice Department. Federal prosecutors allege Mashinsky falsely…

Celsius Network founder Alex Mashinsky was arrested in New York early Thursday morning and charged with securities fraud.

Alexander Mashinsky, the former CEO and founder of Celsius Network, has been arrested on federal fraud charges. He is accused of misleading customers about key aspects of his company.

(This story has not been edited by THE WEEK and is auto-generated from a PTI