After the incident unfolded, the victim reported feeling unwelcome from Masski and his family, even amid threats of violence and potential public disgrace. Some victims suggested that Masski was aware he would face financial losses yet still encouraged them to invest more, right as things were falling apart.
In a victim statement submitted to U.S. District Judge John Koeltl, a client accused Mashinsky of exploiting his family’s brand and defrauding many unsuspecting investors of their life savings. The victims shared that some had taken their own lives, especially among older individuals who were more susceptible, with many ending up homeless after their retirement funds were depleted. One victim, Rien Vanmarcke, expressed deep remorse for convincing his elderly mother to invest in Celsius, resulting in significant financial loss.
Vanmarcke noted, “The cruelty of machine skiing didn’t stop with the collapse.” He highlighted how the family seemed to mock victims with “Your Omission-Free Yourself” merchandise funded by stolen investments, all while showcasing their lavish lifestyle online.
Other victims also spoke of feelings of shame, even if their situations felt less dire than those of others. Daniel Frischberg, who was still in high school, reported losing 70% of his funds due to misleading promises surrounding machine skiing.
“I’m young and fortunate to have time to recover what I lost, mainly because I trusted Mr. Maski,” he said.
