Celsius CFO Yaron Shalem Suspended After His Arrest in Israel

​Fazzaco learned that Celsius Network, the industry-leading cryptocurrency rewards-earning platform, has suspended its Chief Financial Officer, Yaron Shalem, after his arrest in Israel.

"We were recently made aware of a police investigation in Israel involving an employee," the company tweeted. "While this is in no way related to the employee's time or work at CelsiusNetwork, the employee was immediately suspended. We have also verified that no assets were misplaced or mishandled."

The latest arrest by the Israeli authorities was related to a massive crypto fraud. In addition to Shalem, several other leading names, including crypto mogul Moshe Hogeg, were also arrested during the same crackdown.

According to the reports, Shalem’s arrest is mainly related to his previous job at Singulariteam, where he served as Chief Financial Officer (CFO). Hogeg was the founder and Chairman of Singulariteam Ltd.

Shalem joined Celsius this year after spending more than 3 years at Sogur Currency as a CFO. Between 2014 and 2016, Shalem also worked as the Chief Financial Officer at Mobli, a social photo and video sharing platform.