Celsius Suspends CFO after His Arrest in Israel

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Reportedly, Yaron Shalem, the Chief Monetary Officer at Celsius, was among the many seven individuals arrested in Tel Aviv this month. Following the arrest, Celsius introduced just lately that it has suspended the ‘concerned worker’ and the arrest has nothing to do along with his time or work at Celsius.

The newest arrest by the Israeli authorities was associated to an enormous crypto fraud. Along with Shalem, a number of different main names, together with crypto mogul Moshe Hogeg, had been additionally arrested throughout the identical crackdown.

In line with the studies, Shalem’s arrest is especially associated to his earlier job at Singulariteam, the place he served as Chief Monetary Officer (CFO). Hogeg was the founder and Chairman of Singulariteam Ltd. Whereas Celsius didn’t point out the precise title of the arrested worker, it has cleared that no firm property had been misplaced or mishandled.

“We had been just lately made conscious of a police investigation in Israel involving an worker. Whereas that is by no means associated to the worker’s time or work at Celsius, the worker was instantly suspended. We’ve additionally verified that no property had been misplaced or mishandled. We stand by our robust ideas and insurance policies adhering to the very best requirements of professionalism, compliance, and ethics. Celsius will proceed to behave in the most effective curiosity of our neighborhood, our prospects, and our staff,” Celsius Tweeted.

Crypto Crackdown?

Authorities in Israel have elevated their efforts towards the usage of digital property in unlawful actions like cash laundering. In line with a latest report printed by Calcalist, Hogeg was allegedly arrested for defrauding buyers and cash laundering via cryptocurrencies. Earlier in October, Israeli authorities captured 26 residents in an enormous crypto fraud bust.

Shalem joined Celsius this 12 months after spending greater than 3 years at Sogur Forex as a CFO. Between 2014 and 2016, Shalem additionally labored because the Chief Monetary Officer at Mobli, a social picture and video sharing platform.

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