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He was one of 10 arrested, including the owner of Israel’s most famous football team, Beitar Jerusalem. Shalem joined Celsius in March 2021, according to his LinkedIn profile, and is well known in the Israeli tech start-up scene as an executive and investor. “We have also verified that no assets were misplaced or mishandled,” Celsius added.
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It has not been accused of wrongdoing related to Shalem’s arrest.Īlex Mashinsky, Celsius chief executive © Dania Maxwell/Bloomberg The company said the investigation was not related to Celsius itself. “We’re happy to include more investors that will make Celsius stronger,” he told the Blockworks website.Ĭelsius said in a statement on November 26 that it was “recently made aware of a police investigation in Israel involving an employee” whom it had immediately suspended. That day an Israeli magistrates’ court heard how Shalem was detained shortly after he landed at Ben Gurion airport, near Jerusalem, by Israel’s Lahav 433 special investigations unit, the country’s equivalent of the FBI.Īt the time of its finance chief’s arrest Celsius had just raised $400mn of equity capital from investors, including Canada’s second-largest pension fund.Īlex Mashinsky, Celsius chief executive, said on November 24 that the company was increasing its funding round to $750mn in light of investor demand. When Yaron Shalem was detained on 18 November in connection with suspected fraud in the field of cryptocurrencies, he was chief financial officer of Celsius, which pays high rates of interest on deposits of Bitcoin and other digital coins. After a three-month media blackout an Israeli judge has allowed news organisations to report the arrest of a former senior employee of Celsius Network, a $19bn cryptocurrency lending platform.