Judge orders probe to investigate whether Celsius was a Ponzi
Cointelegraph
Published Nov 02, 2022 03:34AM ET
Updated Nov 02, 2022 05:20AM ET
The judge overseeing the Celsius bankruptcy case has ordered the examiner and the official committee of Celsius creditors to determine who will head a probe into whether the firm was operating like a Ponzi scheme.
The order during the Nov. 1 hearing comes in response to allegations from customers that Celsius had used assets of new users to pay yields and facilitate withdrawals to existing users, and as a result, fits the legal definition of a Ponzi scheme.
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Written By: Cointelegraph
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