Key facts:
The former employee alleges that Celsius maintains a millionaire debt with his management firm.
For him, the fact that Celsius cannot return the clients’ money shows that it is a Ponzi.
Jason Stone, who founded the KeyFi company, acquired by Celsius in 2020, accuses the loan company of alleged fraud. He alleges that Celsius maintains a millionaire debt with his company, which served as an investment manager between 2020 and 2021.
According to Stone, his firm that specializes in capital management, mobilized more than USD 2 billion of investments. Earnings, he reports, exceeded $800 million. This businessman adds that Poor risk management by Celsius caused everything to end in millionaire losses.
Stone comments that Celsius accused him of being the cause of said losses. However, he maintains that the company had assured that it was monitoring each of the positions to control risks. KeyFi’s director says Celsius “was lying” and didn’t have her portfolio insured.
Because of Celsius’s attitude, Stone decided to break his relationship with the company. However, it had a “significant sum of money” in debt, which, for the moment, has not been canceled.
The former director of KeyFi, comment that he had kept the discussion with Celsius low-key, but, due to the “public speculation” that is taking place about the solvency of his company, and the “relationship with the truth” that Celsius has, has decided to proceed with legal channels, with a complaint before the courts of the state of New YorkUSA.
In the lawsuit, Stone alleges that Celsius took on the attitude of a Ponzi scheme, raising rates of return to attract more people. The judicial text says, among other things:
“The recent revelation that Celsius does not have the assets available to meet its retirement obligations shows that the defendants were, in fact, operating a Ponzi scheme.”
Jason Stone’s complaint against Celsius.
Celsius is in the eye of the hurricane after, on June 12, freeze all withdrawals and transfers on its platform due to a “liquidity problem”. The withdrawals, for the moment, have not been restored. However, as CriptoNoticias has reported, Celsius has reduced debt with DeFi platforms that put bitcoins (BTC) deposited by investors at risk. At the moment Celsius has not officially responded to the accusations made by Stone.