Bankrupt company has terminated plans to rehire former CFO for $ 93,000 per month

Cryptocurrencies Lender Celsius declared bankruptcy last month. With cash on hand and assets worth $4.3 billion, users had about $4.7 billion in liabilities. The company froze his user's account on June 13 as the value of the cryptocurrency plummeted and many investors were trying to withdraw their funds. 

Shortly after filing, Celsius granted permission to pay his former Chief Financial Officer Rod Bolger approximately $93,000 ($120,000 CAD) per month until the bankruptcy was resolved. asked the judge. On July 25, the company asked to hire Bolger as a consultant, citing its “need for stability” and “institutional knowledge and experience with the unique capabilities of cryptocurrencies.” 

On 5 August, Celsius' attorneys filed a rebuttal of court filings . I accepted and withdrew the request. Some Celsius customers expressed anger at what was seen as a cash extortion by an unreliable leader. More than 100 investors have written directly to Judge Martin Glenn, who is overseeing the case. Some have sued for the return of lost funds, while others have accused Celsius executives of criminal activity.

"Thousands of lives have been lost in [Celsius] actions," writes investor Keith Sackno's attorney. “Before the debtor carelessly pays the insider nearly $100,000 a month, the debtor should be provided with more information, such as what services Mr. Bolger needs and why other employees cannot perform those services.

"This company wants more per month than the average citizen makes in a year!" Home Mario Foti writes. Foti, who said he was a disabled Afghan war veteran, said he had trouble finding work, so he turned to Celsius as a means of financing. I've been saving for years," he said. "This is gross negligence and complete disrespect to those who have lost their livelihoods because of this. I hope the justice system does its part and does not allow the rich to continue stealing from the poor."

A Celsius representative did not immediately respond to a request for comment.

"State of Fear"

Meanwhile, many of Celsius' investors said they lost significant savings on the platform.

Her Lindsey Derence, a 72-year-old woman, wrote: Her Lindsey, her girlfriend Derence, feared she would lose this much of her savings, and she had been plagued with depression, anxiety and hopelessness. The money she invests in the company.

As she has accumulated virtual currency over the years, Ms. Derrence has increased her holdings until she can use the money to pay off her mortgage. she said she wanted to. "I was a depositor who thought he was depositing his cryptocurrency in a secure digital bank," she . I ask you to recover the deposit that was made." 

Samuel DeGregory wrote that he lost $15,000. "I am embarrassed, humiliated and frankly disgusted. I put all my trust in a company that clearly participates in near-fraudulent activity. I have spent years trying to recover my lost money." wrote.