The Celsius founder deducted $ 10 million before freezing the tax payment: report

The Celsius founder deducted $ 10 million before freezing the tax payment: report

less than a week after the resignation of Celsius founder Alex Mashinsky as CEO revealed a new report that he had withdrawn $ 10 million from the crypto loan, shortly before customers were frozen on his platform.

Mashinsky's withdrawal took place at some point between mid to the end of May Finance on Sunday. It is not clear whether the entire amount was withdrawn at once or in separate transactions.

Even after the withdrawals, cryptoassets worth $ 44 million, which belong to Mashinsky and his family, are still stuck in Celsius, a spokesman for the former CEO told the sales point.

Celsius did not answer the request from Blockworks for comment until the editorial deadline.

On June 12, Celsius interrupted the transfers on his platform due to "extreme market conditions" and feared his 1.7 million customers that their funds were blocked for an uncertain period. A month later it registered bankruptcy and left it back to customers and creditors with $ 5.5 billion.

Since his bankruptcy, Mashinsky and other insiders have been examined by the Committee for Unsecanny Celsius by Celsius because of their behavior and their decisions about the use of assets.

Around 80 % of the $ 10 million withdrawals, which he voluntarily disclosed the UCC, were reportedly planned in advance and were used to pay state and federal taxes. The withdrawn remaining amount was the native token Cel from Celsius. His payments should be connected to the estate planning.

The unveiling of his significant withdrawals is expected to escalate the test of the former CEO and question whether he knew that Celsius would reach a stage in which customers could no longer get their funds back, the FT stated.

The Celsius customer funds are still frozen. The Ministry of Justice is currently ensuring that this will continue until the independent examiner Shoba Pillay has completed her investigation.

The lender will submit details on Mashinsky's transactions in court in the coming days as part of the process to disclose internal financial information, said the Ft.

In his letter of withdrawal, Mashinsky said that he regretted that his role as CEO "has become an increasing distraction" and that he would "very suffering" the financial situation of the company

he continues to hold a position as director of the company.

The next Celsius hearing is planned for Thursday, October 6th.

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The Post-Celsius founder pulled $ 10 million before freezing to pay taxes: the report is not a financial advice.