Celsius suspends CFO Yaron Shalem after rumors of arrest in Israel

Cryptocurrency lender Celsius Network announced on Friday (November 26) that it had suspended its Chief Financial Officer (CFO) Yaron Shalem over rumors of an arrest in Israel.

CFO Celsius – Yaron Shalem.

“We recently learned of a police investigation in Israel that one of our employees was involved in. While this had nothing to do with the employee’s time or work at Celsius, the employee was immediately suspended. We also verified that no assets were lost or mishandled, ”Celsius To write on twitter.

The tweet came after Celsius CEO Alex Mashinsky confirmed the employee had been arrested. While the tweet didn’t specifically mention that it was Shalem, the suspension was clearly linked to him. A report citing anonymous sources suggested that Shalem was arrested in the Hogeg case.

Hogeg, the Israeli crypto entrepreneur behind blockchain smartphone startup Sirin Labs and a host of other crypto startups, was arrested last week on charges of fraud, money laundering and sex crimes, among other things. Seven others were arrested along with Hogeg for fraud related to cryptocurrency projects.

Shortly after his arrest, rumors began to circulate that Shalem was one of the eight having served as CFO for Singulariteam, a venture capital company founded by Hogeg, from January 2014 to March 2018. According to his LinkedIn profile, Shalem has also worked at Hogeg’s mobile company in the past.

During an AMA session on Twitter On Tuesday (November 23), a Celsius employee said he could not give a definitive answer on whether Shalem was one of Hogeg’s former employees who had been arrested.

Shalem came to Celsius in March of this year. It is not clear what Shalem was arrested for. According to an archived version of the website, Mashinsky was a consultant to Hogeg’s Sirin Labs in 2019.

The suspension comes a day after Celsius announced it expanded its Series B funding round to $ 750 million, up from $ 400 million on a valuation of $ 3.25 billion in securities law violations announced in September.

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