New York Attorney General Letitia James secured up to $35 million from former Celsius Network CEO Alex Mashinsky, her office said Friday. According to NS3.AI, James also obtained a permanent ban preventing Mashinsky from participating in the securities, commodities and cryptocurrency industries after allegations that he defrauded investors.

James filed suit against Mashinsky in 2023, accusing him of misleading hundreds of thousands of investors about Celsius's safety and investment strategies. Mashinsky is currently serving a 12-year federal prison sentence, and Celsius creditors have received more than $3.4 billion through the company's bankruptcy proceedings.