U.S. Prosecutors Seek to Dismiss Former Celsius CEO's Application
Prefer us on GoogleThe U.S. Attorney's Office for the Southern District of New York has requested the court to dismiss the application of former Celsius CEO Alex Mashinsky to vacate his conviction and reduce his sentence, stating that his legal arguments "lack merit." Mashinsky was sentenced to 144 months in prison and fined $48 million in May 2025 for commodity fraud and securities fraud. In May, Mashinsky informed the court that he would represent himself, and his motion involved allegations related to FTX and former colleague Roni Cohen-Pavon. However, prosecutors pointed out that he did not submit a sworn statement to support the allegations and requested the court to dismiss the case without a hearing. Cohen-Pavon has already completed his sentence for providing "substantial assistance." Additionally, the CFTC permanently banned Mashinsky from trading in commodity markets in June, and the SEC's civil lawsuit against him is still ongoing, with both parties currently in "settlement discussions."
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