Former Celsius CEO Alex Mashinsky’s criminal trial is scheduled to commence on September 17, 2024, almost a year from now, media reports said.
Mashinsky, arrested in July on charges of defrauding customers and providing false information about the crypto lender’s profitability, has pleaded not guilty. Celsius, the crypto lender, filed for bankruptcy last year, accumulating substantial debt to investors.
Prosecutors in July alleged that Mashinsky and the company artificially inflated the price of Celsius’s native token using customer assets, repeatedly deceiving customers. Roni Cohen-Pavon, Celsius’ chief revenue officer, faced criminal charges and reportedly pleaded guilty last month.
The Securities and Exchange Commission (SEC) filed a lawsuit against the crypto lender and Mashinsky in July, accusing them of fraudulent and unregistered sales of “crypto asset securities,” false statements to investors about Celsius’ financial status, and manipulation of the CEL token’s price. The Commodity Futures Trading Commission (CFTC) also brought fraud charges against Mashinsky and Celsius.
Mashinsky’s trial date was set a month after the freezing of some of his assets, including a Texas home and funds at Goldman Sachs, Merrill Lynch, and SoFi Bank.
