Mashinsky Faces Court as Motion to Dismiss Charges Is Considered

Alex Mashinsky, the former CEO of Celsius, will appear in a New York court on November 13.

He will discuss his motion to dismiss several charges, including commodities fraud and market manipulation. This marks his first court appearance in months, with a jury trial scheduled to start on January 28.

Mashinsky was arrested in July 2023 and faces seven felony counts, accused of manipulating the CEL token’s price and misleading investors.

He has maintained his innocence regarding all charges. His former chief revenue officer, Roni Cohen-Pavon, has pleaded guilty and is awaiting sentencing.

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The upcoming hearing may also address Mashinsky’s request to secure testimony from six witnesses living outside the U.S. His attorneys argue these witnesses ignored his instructions on CEL token sales and instead bought more tokens on the FTX exchange during 2021.

Celsius, which filed for bankruptcy in July 2022, is currently in the process of repaying creditors, while Mashinsky also faces civil actions from the U.S. SEC and CFTC.

Kosta Gushterov