Former Celsius CEO, Alex Mashinsky, has requested a one-month postponement for his impending sentencing hearing, initially set for April 8. In a recent filing at the US District Court for the Southern District of New York, Mashinsky’s legal team argued that their client required more time to prepare a sentencing submission.
Mashinsky’s lawyers claimed that their client was “simultaneously being pulled in various directions” due to his guilty plea in criminal court and ongoing litigation in bankruptcy court. The defense team emphasized the need to ensure sufficient time to present Mr. Mashinsky’s views on his offense conduct and other factors for the court’s consideration in determining an appropriate sentence.
In 2023, US authorities indicted Mashinsky on seven felony counts related to fraud and manipulation of Celsius’ CEL (CEL) token price. He pleaded guilty to two charges in December 2024, just two months ago. However, it seems that Mashinsky is keen on stretching out the legal process a little longer.
The defense team’s request for a delay in the disclosure of a presentence investigation report and any objections and responses has not been well-received by US prosecutors, who have already provided victim impact statements. Will the judge grant Mashinsky’s request for an extended reprieve? Only time will tell.
Meanwhile, in the Crypto World…
Celsius’ former chief revenue officer, Roni Cohen-Pavon, pleaded guilty to four felony charges in September 2023. As of now, his sentencing hearing has not been scheduled, but it is expected to take place after Mashinsky’s. Will Mashinsky’s delay tactics influence Cohen-Pavon’s sentencing? Stay tuned!
As the crypto industry continues to evolve, so do the legal battles that accompany it. Will Mashinsky and Cohen-Pavon face prison time, or will they walk away with a slap on the wrist? Only the court knows for sure.
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2025-02-06 19:16