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According to a Wall Street Journal report, the court-appointed an examiner to examine Celsius Network LLC's business model.
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A bankruptcy judge is now investigating whether the bankrupt firm was a Ponzi Scheme.
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WSJ reported that Celsius Network has not responded to the court-appointed investigation.
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Greg Pesce (a lawyer for creditors) stated that while there were some causes to the research, they still aren't sure "if Celsius Network is a Ponzi Scheme."
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I want to make it clear that we are investigating whether it is. That is something we need to know the answer to.
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According to the report, the lawyers of the bankrupt firm stated that Shoba Pillay's investigation might be costly and time-consuming.
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However, the judge stated that Celsius Network could face costly and prolonged investigations if Pillay is not allowed to expand her probe.
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