Alex Mashinsky Seeks Witnesses as He Faces 100+ Year Sentence in Celsius Case
Former Celsius CEO Alex Mashinsky is seeking to call six former company employees as witnesses in his upcoming criminal trial, as he faces the possibility of a sentence exceeding 100 years.
His legal team has petitioned a New York district court to permit testimonies from these individuals, including high-ranking former staff like the chief financial officer and chief revenue officer. The witnesses, many residing abroad, could provide critical insight into the case.
Mashinsky’s legal representatives argue that he did not intend to defraud customers and relied on the expertise of his team. They also contend that the government’s sentencing guidelines could impose a severe 115-year prison term on Mashinsky.
Celsius, which declared bankruptcy in 2022 and concluded its affairs earlier this year, has been under scrutiny by various regulators. The SEC accused the company and Mashinsky of defrauding investors through misleading financial statements and manipulating the value of its native CEL token.
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Among the proposed witnesses is Roni Cohen-Pavon, the former Chief Revenue Officer who has already pleaded guilty to charges related to the case. Mashinsky’s attorneys claim Cohen-Pavon and other staff acted against his directives by purchasing CEL tokens and manipulating their market price.
Mashinsky’s defense also argues that inaccuracies in public statements made during Celsius’s “Ask Mashinsky Anything” sessions were due to internal review processes and not intentional fraud. The defense maintains that any errors were corrected in good faith, albeit without Mashinsky’s direct oversight.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
