Penalty Amount
$35,000,000
New York Attorney General Letitia James announced a settlement with former Celsius CEO Alex Mashinsky over allegations that he misled investors about Celsius’s safety, users, and investment strategies, and failed to register as required under New York law. The settlement permanently bars Mashinsky from the securities, commodities, and cryptocurrency industries and provides for up to $35 million in payments to New York under specified conditions.
Mashinsky is permanently barred from doing business in the securities, commodities, and cryptocurrency industries. He must pay $25 million to New York if he fails to forfeit $10 million in ill-gotten gains to the federal government, and an additional $10 million if he does not serve his full prison sentence.
This action concerns alleged investment fraud rather than a privacy violation, so teams should review customer terms and marketing approvals for accurate, substantiated claims about platform safety, returns, users, and investment strategies. For digital-asset lending, custody, and other vendor agreements, check restrictions on use and onward lending of customer assets, risk disclosures, registration and licensing warranties, audit rights, loss reporting, and indemnification. Employee compliance policies and approval processes should also address who may make public claims about products and how those claims are reviewed.
Entity
Alex Mashinsky
Industry
Financial ServicesOfficial Press Release
https://ag.ny.gov/press-release/2026/attorney-general-james-bans-former-cryptocurrency-ceo-who-defrauded-investors
new york v alex mashinsky stipulation 2026
https://ag.ny.gov/sites/default/files/settlements-agreements/new-york-v-alex-mashinsky-stipulation-2026.pdf
New York Attorney General Enforcement Page
https://ag.ny.gov/press-releases
"Alex Mashinsky"
"up to $35 million from Alex Mashinsky"
"in violation of New York law"
"deceived investors about Celsius’s safety, number of users, and investment strategies"
"a permanent ban on his participation in the securities, commodities, and cryptocurrency industries"
New York Attorney General Letitia James and a multistate coalition sued the U.S. Department of Labor, alleging it unlawfully canceled grants for state unemployment insurance system upgrades after approving the states’ plans. The coalition seeks restoration of the remaining funding and damages; the release does not report a court ruling or penalty.
$1.1M
New York and a coalition of 47 other attorneys general secured settlements with Ascend Laboratories and Mayne Pharma over an alleged scheme to inflate generic drug prices and reduce competition. Mayne agreed to pay $650,000 and Ascend $400,000, with settlement funds distributed to impacted consumers and the companies agreeing to internal antitrust reforms.
New York Attorney General Letitia James joined a 15-state coalition in suing HHS Secretary Robert F. Kennedy, Jr., challenging changes that removed seven vaccines from the CDC’s list of vaccinations recommended for every child. The states allege the changes and ACIP appointments violated the Administrative Procedure Act and ask the court to invalidate them; the release reports no penalty or court-ordered remedy.
New York Attorney General Letitia James joined a coalition lawsuit challenging NHTSA’s rollback of federal fuel economy standards. The coalition alleges that the final rule violates federal law and asks the court to strike it down; the press release describes no privacy violations or monetary penalty.
$400.0M
New York Attorney General Letitia James and a coalition of 47 other attorneys general secured a $400 million settlement with Sandoz Inc. and Fougera Pharmaceuticals Inc. over an alleged scheme to coordinate generic drug prices and reduce competition. The settlement provides for consumer compensation and requires Sandoz to implement antitrust compliance reforms, including annual staff training and a Chief Compliance Officer.
New York Attorney General Letitia James joined eight other attorneys general in issuing a statement criticizing a DOJ judicial misconduct complaint against nearly all federal district court judges in Minnesota. The release concerns judicial independence, not a privacy enforcement action; it announces no penalty or privacy-related remedy.