Celsius founder Alex Mashinsky seeks dismissal of the Federal Trade Commission's (FTC) case.
Celsius founder Alex Mashinsky seeks dismissal of the Federal Trade Commission’s case.
Mashinsky’s defense team is contesting these charges, dismissing them as “baseless.” They are calling for the court to drop the fraud allegations and the FTC’s claims that he misled investors. Specifically, Mashinsky’s legal counsels argue that the accusations do not meet the criteria for a claim under the Gramm-Leach-Bliley Act. This law necessitates knowingly false statements to obtain customer information from a financial institution fraudulently.
Adding to the complex legal situation, Mashinsky’s former Chief Technology Officer, Hanoch “Nuke” Goldstein, also denies the charges. Goldstein argues that the FTC unfairly implicates him due to his association with other Celsius executives.
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