The Legal Battle Intensifies for Former Celsius CEO Alex Mashinsky
Unyielding Charges
Mashinsky’s legal team had argued for the dismissal of charges related to commodities fraud and the alleged manipulation of the Celsius (CEL) token price. However, the judge found these arguments to be “either moot or without merit,” thereby maintaining all seven counts in the indictment. This decision paves the way for Mashinsky’s trial, which is scheduled to commence in January 2025.
Broader Implications and Celsius’ Bankruptcy
The judge also deferred deciding whether to include information about Celsius’ bankruptcy in the criminal case, indicating that motions in limine or trial proceedings might address it. This aspect of the case underscores the complex interplay between corporate financial health and alleged individual misconduct within the crypto industry.
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Juror Selection and the Shadow of FTX
In another strategic move, Mashinsky’s legal team has requested permission to query prospective jurors about their awareness of the defunct cryptocurrency exchange FTX, anticipating that it will feature prominently in trial testimonies. Given FTX’s controversial collapse and its “toxic” reputation in the crypto sphere, this is a critical factor that could influence juror impartiality.
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Co-defendant’s Guilty Plea
Adding to the drama, Roni Cohen-Pavon, Celsius’ former chief revenue officer and Mashinsky’s co-defendant, has altered his initial not guilty plea to guilty. He is set for sentencing on December 11, which could potentially impact the proceedings against Mashinsky.
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