As a seasoned crypto investor with a decade-long journey through the digital asset landscape, I find myself closely following the legal saga of Alex Mashinsky and the Celsius platform. Having witnessed the meteoric rise and fall of several projects, I’ve learned to navigate the complexities of this space with caution and an open mind.
one for commodities fraud and another for manipulating the value of the CEL token.
In a court filing dated November 8th, Judge John Koeltl determined that the defense’s arguments to dismiss the charges against Mashinsky were either no longer relevant (moot) or lacking in validity (without merit). Consequently, he denied the motion to dismiss the two charges, which leaves seven remaining counts for the upcoming trial of the former Celsius CEO, scheduled for January 2025.
Previously, the legal team representing the ex-CEO of Celsius argued contradictions in the securities and commodities fraud accusations. The prosecution asserted that the Earn Program offered by Celsius was considered a security, while the Bitcoin (BTC) investments were categorized as commodities. Additionally, Mashinsky contended he didn’t receive sufficient notice that manipulating the price of CEL (CEL) could be a criminal offense.
In January, a motion was made to discard two charges, which also requested Judge Koeltl to exclude details about Celsius’ bankruptcy from the ongoing criminal case. However, on November 8th, the judge declined to make a decision right away, hinting that he may address such motions during pre-trial hearings or at the trial itself.
Questions about FTX for jurors
In light of the court order from November 8th, Mashinsky’s legal team has made a request to pose questions to potential jurors regarding their familiarity with the defunct cryptocurrency exchange, FTX. As stated by the legal team, there is expected to be evidence about FTX during the trial, and within the cryptocurrency community, FTX was known as a highly controversial entity.
In July 2023, authorities apprehended and indicted Mashinsky on seven felony charges. However, he denied the allegations and was released on bail of $40 million, allowing him to move freely under certain limitations.
Previously held Chief Revenue Officer at Celsius, Roni Cohen-Pavon – who was charged in tandem with Mashinsky – stands accused of “fraudulently” influencing the price of CEL. Initially proclaiming his innocence, Cohen-Pavon subsequently altered his plea to guilty. His sentencing is set for December 11.
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2024-11-11 20:43