NEW YORK (AP) — The founder and former CEO of the failed cryptocurrency lending platform Celsius Network could face decades in prison after pleading guilty Tuesday to federal fraud charges, admitting that he misled customers about the business. Read this article for free: Already have an account? To continue reading, please subscribe: * NEW YORK (AP) — The founder and former CEO of the failed cryptocurrency lending platform Celsius Network could face decades in prison after pleading guilty Tuesday to federal fraud charges, admitting that he misled customers about the business. Read unlimited articles for free today: Already have an account? NEW YORK (AP) — The founder and former CEO of the failed cryptocurrency lending platform Celsius Network could face decades in prison after pleading guilty Tuesday to federal fraud charges, admitting that he misled customers about the business. Alexander Mashinsky, 58, of Manhattan, entered the plea in New York federal court to commodities and securities fraud. He admitted illegally manipulating the price of Celsius’s proprietary crypto token while secretly selling his own tokens at inflated prices to pocket about $48 million before Celsius collapsed into bankruptcy in 2022. In court, he admitted that in 2021 he publicly suggested there was regulatory consent for the company’s moves because he knew that customers “would find false comfort” with that. And he said that in 2019, he was selling the crypto tokens even though he told the public that he was not. He said he knew customers would draw false comfort from that too. “I accept full responsibility for my actions,” Mashinsky said of crimes that stretched from 2018 to 2022 as the company pitched itself to customers as a modern-day bank where they could safely deposit crypto assets and earn interest. U.S. Attorney Damian Williams said in a release that Mashinsky “orchestrated one of the biggest frauds in the crypto industry” as his company’s assets purportedly grew to about $25 billion at its peak, making it one of the largest crypto platforms in the world. He said Mashinsky used catchy slogans like “Unbank Yourself” to entice prospective customers with a pledge that their money would be as safe in crypto accounts as money would be in a bank. Meanwhile, prosecutors said, Mashinsky and co-conspirators used customer deposits to fund market purchases of the Celsius token to prop up its value. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. Machinsky made tens of millions of dollars selling his own CEL tokens at artificially high prices, leaving his customers “holding the bag when the company went bankrupt,” Williams said. An indictment alleged that Mashinsky promoted Celsius through media interviews, his social media accounts and Celsius’ website, along with a weekly “Ask Mashinsky Anything” session broadcast that was posted to Celsius’ website and a YouTube channel. Celsius employees from multiple departments who noticed false and misleading statements in the sessions warned Mashinsky, but they were ignored, the indictment said. A plea agreement Mashinsky made with prosecutors calls for him to be sentenced to up to 30 years in prison and to forfeit over $48 million, which is the amount of money he allegedly made by selling his company’s token. Sentencing was scheduled for April 8. Advertisement AdvertisementVANCOUVER, British Columbia, Nov. 26, 2024 (GLOBE NEWSWIRE) -- NorthWest Copper ("NorthWest” or "the Company”) (TSX-V: NWST) is pleased to announce the appointment of Paul Olmsted as Chief Executive Officer and a member of the Board of Directors, effective immediately. Mr. Olmsted brings over 30 years of experience in the mining industry, with a proven track record in project evaluation, development, financing and strategic leadership. Prior to joining NorthWest, from 2016 to 2023, Mr. Olmsted was the Chief Financial Officer of Superior Gold Inc., actively involved in the acquisition of an intermediate gold producer, followed by an initial public offering and ultimately leading the company through a business combination sale in 2023. Before Superior Gold, Mr. Olmsted was the Senior Vice President, Corporate Development of IAMGOLD Corporation from 2002-2014, leading the company's business development activities with total transactions valued at close to C$10 billion. His extensive background in project evaluation and development aligns perfectly with NorthWest Copper's commitment to advancing its high-quality copper and gold assets in British Columbia. "We are excited to welcome Mr. Olmsted to the NorthWest team,” said Board Chair, Maryantonett Flumian. "His deep industry knowledge and expertise will be invaluable as we continue to drive forward our strategic initiatives of delivering value through exploration and development. We believe that Mr. Olmsted is the right leader to guide our company in this pivotal time for the industry.” In his first statement as the incoming CEO, Mr. Olmsted expressed enthusiasm about the Company's future and project pipeline. "The Kwanika-Stardust and Lorraine-Top Cat projects represent some of the most promising opportunities in British Columbia and globally. I am excited to lead a talented team that is dedicated to unlocking the full potential of these assets. Our focus will be on advancing the core assets of the Company through sustainable development and delivering value for all stakeholders,” he said. Grant of Stock Options and Restricted Share Units NorthWest also announces that it has granted 650,000 stock options and 250,000 Restricted Share Units (RSUs) to Mr. Olmsted pursuant to its Equity Incentive Plan. The stock options have an exercise price of C$0.15, vest over three years and expire after five years. The RSUs are payable in common shares of the Company on exercise, vest equally over three years and must be redeemed within 30 days of each of November 26, 2025, November 26, 2026 and November 26, 2027, or they expire. About NorthWest Copper: NorthWest Copper is a copper-gold explorer with a pipeline of advanced and early-stage projects in British Columbia, including Kwanika-Stardust, Lorraine-Top Cat and East Niv. With a robust portfolio in a tier one jurisdiction, NorthWest Copper is well positioned to participate fully in a strengthening global copper market. We are committed to responsible mineral exploration which involves working collaboratively with First Nations to ensure future development incorporates stewardship best practices and traditional land use. Additional information can be found on the Company's website at www.northwestcopper.ca . On Behalf of NorthWest Copper Corp. "Maryantonett Flumian” Chair, NorthWest Copper For further information, please contact: 604-683-7790 [email protected] Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking Information This news release contains "forward-looking information” within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans”, "expects”, "is expected”, "budget”, "scheduled”, "estimates”, "forecasts”, "intends”, "anticipates”, or "believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may”, "could”, "would”, "might” or "will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to statements with respect to; plans and intentions of the Company; proposed exploration and development of NorthWest's exploration property interests including potential size of budget and type of exploration being conducted; the Company's ability to finance future operations; future operations; mine plans, and magnitude or quality of mineral deposits. All statements, other than statements of historical fact, included herein, constitutes forward-looking information. Although NorthWest believes that the expectations reflected in such forward-looking information and/or information are reasonable, undue reliance should not be placed on forward-looking information since NorthWest can give no assurance that such expectations will prove to be correct. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks, uncertainties and other factors identified in NorthWest's periodic filings with Canadian securities regulators. Forward-looking information are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking information. Important factors that could cause actual results to differ materially from NorthWest's expectations include risks associated with the business of NorthWest; risks related to reliance on technical information provided by NorthWest; risks related to exploration and potential development of the Company's mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in NorthWest's filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.com). Forward-looking information is based on estimates and opinions of management at the date the information are made. NorthWest does not undertake any obligation to update forward-looking information except as required by applicable securities laws. Investors should not place undue reliance on forward-looking information.
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NEW YORK (AP) — The founder and former CEO of the failed cryptocurrency lending platform could face decades in prison after pleading guilty Tuesday to federal fraud charges, admitting that he misled customers about the business. , 58, of Manhattan, entered the plea in New York federal court to commodities and securities fraud. He admitted illegally manipulating the price of Celsius’s proprietary crypto token while secretly selling his own tokens at inflated prices to pocket about $48 million before Celsius collapsed into bankruptcy in 2022. In court, he admitted that in 2021 he publicly suggested there was regulatory consent for the company’s moves because he knew that customers “would find false comfort” with that. And he said that in 2019, he was selling the crypto tokens even though he told the public that he was not. He said he knew customers would draw false comfort from that too. “I accept full responsibility for my actions,” Mashinsky said of crimes that stretched from 2018 to 2022 as the company pitched itself to customers as a modern-day bank where they could safely deposit crypto assets and earn interest. U.S. Attorney Damian Williams said in a release that Mashinsky “orchestrated one of the biggest frauds in the crypto industry” as his company’s assets purportedly grew to about $25 billion at its peak, making it one of the largest crypto platforms in the world. He said Mashinsky used catchy slogans like “Unbank Yourself” to entice prospective customers with a pledge that their money would be as safe in crypto accounts as money would be in a bank. Meanwhile, prosecutors said, Mashinsky and co-conspirators used customer deposits to fund market purchases of the Celsius token to prop up its value. Machinsky made tens of millions of dollars selling his own CEL tokens at artificially high prices, leaving his customers “holding the bag when the company went bankrupt,” Williams said. An indictment alleged that Mashinsky promoted Celsius through media interviews, his social media accounts and Celsius’ website, along with a weekly “Ask Mashinsky Anything” session broadcast that was posted to Celsius’ website and a YouTube channel. Celsius employees from multiple departments who noticed false and misleading statements in the sessions warned Mashinsky, but they were ignored, the indictment said. A plea agreement Mashinsky made with prosecutors calls for him to be sentenced to up to 30 years in prison and to forfeit over $48 million, which is the amount of money he allegedly made by selling his company’s token. Sentencing was scheduled for April 8. Larry Neumeister, The Associated Press
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Why Elon Musk can never balance the budget, in one chartWorld number one Luke Humphries continued his bid for back-to-back World Championship titles after easing through to the last 16. While there was high drama in Alexandra Palace on the first day back after the Christmas break, where Damon Heta threw a nine-dart finish, Humphries enjoyed a serene evening. He beat Nick Kenny 4-0 to set up a mouth-watering fourth-round meeting with two-time champion Peter Wright. Kenny was unable to produce the form that saw him beat Raymond van Barneveld in the previous round and Humphries did not need to be anywhere near his best. “It was one of those games I didn’t want to take for granted,” he said. “I expected a tough game and I wasn’t firing, I felt there is so much more to give, I felt there was more to come out of me. “I didn’t want to give anyone an inch because they can take a mile. “I’m not going to give up this world title without a fight, I wasn’t at my best but when someone pushes me I know I can come up with the goods.” Earlier in the day Heta set the tournament alight on its resumption with a stunning nine-dart finish before bowing out. The Australian, seeded ninth, achieved darting perfection in the second set of his match with Luke Woodhouse to earn a cool £60,000 payday. However, his joy was short-lived as Woodhouse won a thrilling battle 4-3, having trailed 3-1. Heta was millimetres away from throwing a nine-darter in the previous round when he missed the double 12, but he made no mistake this time in the first match after the Christmas break. Heta’s feat was the second time a nine-darter has been thrown in the 2025 tournament and the 16th of all time at the World Championship, following Christian Kist’s effort before Christmas. As well as landing the Australian a hefty payday, it also saw a lucky fan in Ally Pally win a £60,000, with £60,000 also being donated to Prostate Cancer UK. There were several other titanic battles, none better than Gerwyn Price’s sudden-death leg victory over Joe Cullen. Price looked like he was going to have an easy night when he coasted into a 3-0 lead, but Cullen hit back to send it to a decider, which went all the way. Cullen landed a ‘Big Fish’ 170 checkout to send the tie to a sudden-death leg on his throw but Price hit some big numbers to steal victory. “That was tough, I just wanted to get over the winning line,” he said during his on-stage interview. “He kept coming back, the crowd were way behind him. “I thought I was going to lose, but I kept in there right to the end and got the win. “He played some good darts at the right times. I put myself in that position, I got myself out of it and I’m still in.” Seventh seed Jonny Clayton also battled to victory after squandering a 3-0 lead against Daryl Gurney. Gurney then had six darts to send the decider to a tiebreaker but lost his nerve and Clayton stole a 4-3 win. Stephen Bunting and Peter Wright, who was suffering from a chest infection, enjoyed much more safe passages with routine wins over Madars Razma and Jermaine Wattimena respectively.Keith Higgins Jr. scores 22 to lead Lehigh to 87-67 victory over NeumannHyundai Motor & Kia unveil wearable robot for workers
Fox News Flash top sports headlines are here. Check out what's clicking on Foxnews.com. The San Francisco 49ers , 5-5 and in last place in the NFC West, desperately need a win if they want to keep their playoff hopes alive. Now, they have an even steeper uphill climb after it was announced two of their stars will not play Sunday. Quarterback Brock Purdy and defensive end Nick Bosa will be sidelined this weekend with injuries against the Green Bay Packers. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM Nick Bosa and Brock Purdy (Imagn) Purdy, who is dealing with a shoulder injury in his throwing arm, was a limited participant in practice Wednesday and Thursday. After getting an MRI, he did not practice Friday. Bosa did not practice all week with his hip/oblique injury. On top of that, Trent Williams did not practice for a third consecutive day as he deals with an ankle injury, but he is listed as questionable. The Niners have been plagued by injuries all season. Christian McCaffrey did not see the field until Week 10, and Brandon Aiyuk tore an ACL earlier this season. Tight end George Kittle and wide receiver Deebo Samuel have also missed time. San Francisco 49ers quarterback Brock Purdy walks off the field after a game against the Seattle Seahawks in Santa Clara, Calif., Sunday, Nov. 17, 2024. (AP Photo/Jed Jacobsohn) STEELERS' GEORGE PICKENS GETS INTO IT WITH BROWNS PLAYER ON FINAL PLAY OF BLIZZARD GAME, HELD BACK BY SECURITY Green Bay cornerback Jaire Alexander will also miss the gane with a hamstring injury. Brandon Allen will start under center for the 49ers. The injuries will make the 49ers underdogs for the first time since 2022. They had been favorites in 36 consecutive games, the longest streak in the Super Bowl era. Purdy is completing 66.0% of his passes this year and has thrown for 2,613 yards, 13 touchdowns and eight interceptions. Bosa has at least a half sack in each of his last four games and at least one in his last three. He has seven overall on the season and aims to make his fifth Pro Bowl in six seasons. San Francisco 49ers defensive end Nick Bosa reacts after sacking Los Angeles Rams quarterback Matthew Stafford during the first half in Santa Clara, Calif., Oct. 3, 2022. (AP Photo/Godofredo A. Vásquez) CLICK HERE TO GET THE FOX NEWS APP NFL.com says the Niners have a 30% chance of making the playoffs. They currently sit in the 10th seed, and a win would bump those odds up to 48%. A loss would give them just a 15% chance at the postseason. Follow Fox News Digital’s sports coverage on X , and subscribe to the Fox News Sports Huddle newsletter .Luke Humphries bid for back-to-back World Championship titles on track after win