Celsius is conducting its own misconduct investigation as customers tell a bankruptcy court that the company’s founders misled them

Celsius has enlisted its special committee to investigate complaints of “misconduct.”
The bankruptcy court has gotten some 300 letters from customers, many clamoring about lost savings.
Celsius is fielding investigations by state and federal regulators and its own creditors.

A special committee for bankrupt crypto lender Celsius is investigating “allegations of misconduct,” at the company, a lawyer for Celsius said Tuesday.   

Joshua Sussberg of Kirkland & Ellis, the lawyer representing Celsius, said in a bankruptcy hearing that the two new board directors that Celsius appointed this summer — David Barse, the former CEO of Third Avenue Management, and Alan Carr, the founder of restructuring services firm Drivetrain — could “take remedial action” depending on the findings of their investigation. 

The Celsius bankruptcy docket has swelled with hundreds of letters from Celsius users — its 1.7 million customers are its creditor base in the bankruptcy — with many suggesting…

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This article was written by [email protected] (Sindhu Sundar) and originally published on www.businessinsider.com