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Former Celsius CEO Mashinsky will face a ruling on fraud and manipulation of Token prices on May 8.
Gate.io News bot message, according to documents from the New York District Court, the sentencing date for former Celsius CEO Alex Mashinsky is set for May 8. Mashinsky will face a court ruling regarding charges of fraud and manipulation of the price of CEL Token.
Mashinsky was arrested in July 2023, facing multiple charges including commodity fraud and securities fraud. In December 2023, he pleaded guilty to one count of commodity fraud and one count of price manipulation, which carry a maximum sentence of 20 years in prison. The sentencing, originally scheduled for April 8, was postponed by a month due to the defense needing to submit additional evidence.
According to TheBlock, Celsius managed $13 billion in customer deposits before its bankruptcy, which the company announced during the downturn of the cryptocurrency market in 2022.