202203 Aug

Bankrupt crypto lending platform Celsius is trying to hire its CFO back at $92,000 a month, filings say

Summary

Embattled lending platform Celsius wants to bring back ex-CFO Rod Bolger and pay him about $92,000 a month, prorated over a period of at least six weeks. The embattled lender says it needs Bolger to help it navigate bankruptcy proceedings as an advisor, according to a motion filed with the Southern District of New York. The company subsequently installed Chris Ferraro, then the head of financial planning, analysis, and investor relations for Celsius, to the post of CFO. Once a titan of the crypto lending world, Celsius is in bankruptcy proceedings and facing down claims that it was running a Ponzi scheme by paying early depositors with the money it got from new users. Retail investors have filed pleas to the judge to help them recover some of their lost holdings, with some saying that their life savings have effectively been wiped out.

Source: Cnbc

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