Alex Mashinsky, founder and former CEO of now-bankrupt crypto lender Celsius, filed a new motion in court seeking the dismissal of the United States Federal Trade Commission case against him “in its entirety.”
The legal counsel for the former Celsius boss argued that the allegations against their client do not support the claim that he knowingly made a misstatement to “fraudulently obtain customer information from a financial institution.” According to the lawyers, the accusations do not meet the standards for a claim under the Gramm-Leach-Bliley Act. This 1999 law requires knowingly making false claims to collect customer information fraudulently from a financial institution.