Oct 3, 2023
Ex-Celsius CEO Mashinsky’s Fraud Trial Set for September 2024
Bloomberg News
,![Alex Mashinsky, former chief executive officer of Celsius Network Ltd., arrives at court in New York, US, on Tuesday, Oct. 3, 2023. Mashinsky was accused by prosecutors of orchestrating a years long scheme to mislead customers about the financial health of his failing crypto lender and manipulate cryptocurrency prices for his own profits., Bloomberg Alex Mashinsky, former chief executive officer of Celsius Network Ltd., arrives at court in New York, US, on Tuesday, Oct. 3, 2023. Mashinsky was accused by prosecutors of orchestrating a years long scheme to mislead customers about the financial health of his failing crypto lender and manipulate cryptocurrency prices for his own profits.](/polopoly_fs/1.1979723.1696352364!/fileimage/httpImage/image.jpg_gen/derivatives/landscape_620/alex-mashinsky-former-chief-executive-officer-of-celsius-network-ltd-arrives-at-court-in-new-york-us-on-tuesday-oct-3-2023-mashinsky-was-accused-by-prosecutors-of-orchestrating-a-years-long-scheme-to-mislead-customers-about-the-financial-health-of-his-failing-crypto-lender-and-manipulate-cryptocurrency-prices-for-his-own-profits.jpg)
(Bloomberg) -- The criminal trial of former Celsius Network Ltd. Chief Executive Officer Alex Mashinsky has been scheduled for Sept. 17, 2024.
Mashinsky was charged in July with securities fraud, commodities fraud, wire fraud and conspiracy to manipulate the value of the Celsius token. His firm collapsed into bankruptcy last year with more than $1 billion in debt.
At a hearing before US District Judge John Koeltl Tuesday, lawyers for Mashinsky hinted at their defense strategy, saying they were considering looking at whether a cryptocurrency is a security.
“The law about what is a security is fluid,” said defense attorney Robert Frenchman.
Last month, former top Celsius Network executive Roni Cohen-Pavon pleaded guilty to fraud charges and agreed to cooperate with prosecutors in their case against Mashinsky.
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