Celsius CFO Suspended Following Arrest Reports in Israel

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Yaron Shalem, the CFO of Celsius, has been detained in Israel on allegations connected to activities outside the firm.

An employee of Celsius is being investigated

Celsius said it was just made aware of a police investigation in Israel concerning an employee in a tweet on Thursday. It went on to say that the incident had nothing to do with the employee’s employment at Celsius and that none of the company’s finances had been harmed. The company also said that the employee had been promptly suspended.

Although Celsius did not identify the employee, most assume it was the firm’s CFO, Yaron Shalem.

Celsius has declined to acknowledge that Shalem is the person in issue on many occasions. Some have pointed out that the corporation has got Shalem off its team page, implying that the suspended employee’s identity has been confirmed by omission.

Moshe Hogeg was linked to Shalem

Moshe Hogeg was detained on allegations of fraud, money laundering, and sexual assault last week, and Shalem is likely one of eight persons detained and probed in connection with him.

Hogeg is well known as the creator of Sirin Labs, a cryptocurrency phone startup. He also ran Singulariteam, a venture capital business where Shalem worked as CFO for many years. Although he does not seem to be under investigation, Alex Mashinsky, the CEO of Celsius, was formerly a consultant for Sirin Labs.

Celsius revealed earlier this week that its last investment round had been increased to $750 million. Along with its primary crypto financing business, it also intends to invest and expand into mining.

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