Key Takeaways:
- Former Celsius CEO Alex Mashinsky is due back in court on Nov. 13 to argue his motion to dismiss fraud and market manipulation charges.
- Mashinsky faces seven felony charges related to manipulating the price of CEL tokens and misleading investors; he has pleaded not guilty.
- Co-defendant Roni Cohen-Pavon has pleaded guilty and is scheduled for sentencing on Dec. 11, with Mashinsky’s trial set for Jan. 28.
Alex Mashinsky, former CEO of Celsius, will appear in a New York court on November 13, 2023, to address his motion to dismiss charges of fraud and market manipulation.
This follows a filing by Judge John Koeltl of the U.S. District Court for the Southern District of New York.
[FILING] Former Celsius CEO Alex Mashinsky to Appear in Court on Nov. 13 for Motion to Dismiss Fraud Charges pic.twitter.com/BoPBOv1wtM
— BecauseBitcoin.com (@BecauseBitcoin) October 23, 2024
Mashinsky faces accusations, alongside former executive Roni Cohen-Pavon, of manipulating the price of CEL, Celsius’s token, and misleading investors.
Mashinsky, who resigned as CEO in 2022 after allegedly profiting $42 million from CEL sales, was arrested in July 2023 and faces seven felony charges.
Cohen-Pavon recently pleaded guilty and is set for sentencing on December 11.
Mashinsky’s legal team is also attempting to preserve testimonies from witnesses outside the U.S., claiming they ignored his directives.
In addition to the criminal charges, Mashinsky is facing civil suits from the SEC and CFTC.
His jury trial is scheduled for January 28, 2024, while Celsius, which went bankrupt in 2022, has started repaying creditors this year.
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