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The founder of the law firm Hodder believes that since the head of Celsius Alex Mashinsky did not provide full information about the costs during the bankruptcy, he should be held liable.
During an interview with First Mover, Sasha Hodder said that Alex Mashinsky’s actions were not “transparent.” Hodder believes the U.S. trustee overseeing Celsius’ bankruptcy has the right to seek an independent expert because Mashinsky did not provide complete information.
Lenders are “frustrated that Celsius burns through money very quickly. At the same time, no one was able to get direct information from the CEO of Celsius about how much they actually owe to creditors, “Hodder noted.
According to her, if the trustee receives approval for the appointment of an independent expert, it is likely that the list of debts of the company will become available. At the moment, out of the 50 largest debtors, only 10 are known.
Some experts argue that the alarm bells appeared even before Celsius filed for bankruptcy. In April, when the market began to collapse, the company asked its customers to increase their assets in bitcoins in case it had to use them as collateral.
“It discouraged ordinary investors,” Hodder said. “If Mashinsky is prosecuted, the investigation of this criminal case may show that the creditors lied.”
She stressed that until the financial details are clear, Celsius must not only be more transparent, but also “stop spending exorbitant funds every day, lay off all staff and suspend its activities.”
Recently, the U.S. trustee filed a motion with the court to bring in additional specialists to ensure greater transparency in the Celsius case.
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