Former Celsius CEO Alex Mashinsky is set to begin his criminal fraud trial on September 17, 2024. US District Judge John Koeltl confirmed the trial date during a hearing, which will be preceded by three pretrial conferences in March, July, and September. Mashinsky will remain free on $40 million bail but will be subject to electronic monitoring and restrictions on expenditures over $10,000.
Mashinsky is facing a range of fraud and conspiracy charges related to his defunct lending firm Celsius, including securities fraud. The Federal Trade Commission (FTC) and the Securities and Exchange Commission (SEC) are among the prosecutors involved in the case. Mashinsky’s defense lawyers hinted that they may argue that cryptocurrencies are not securities, which is a contentious legal issue in the United States.
In a separate case, FTX Founder Sam Bankman-Fried (SBF) began his court trial on Tuesday. FTX is charged with commodities fraud, securities fraud, wire fraud, and conspiracy to defraud its customers.
Last month, Celsius creditors voted in favor of a restructuring plan that will see approximately $2 billion worth of Bitcoin and Ethereum returned to them. They will also receive equity distribution in a new company that has taken over some of Celsius’ old businesses..
#Heres #Celsius #CEO #Mashinsky #Officially #Headed #Trial
Mashinsky is facing a range of fraud and conspiracy charges related to his defunct lending firm Celsius, including securities fraud. The Federal Trade Commission (FTC) and the Securities and Exchange Commission (SEC) are among the prosecutors involved in the case. Mashinsky’s defense lawyers hinted that they may argue that cryptocurrencies are not securities, which is a contentious legal issue in the United States.
In a separate case, FTX Founder Sam Bankman-Fried (SBF) began his court trial on Tuesday. FTX is charged with commodities fraud, securities fraud, wire fraud, and conspiracy to defraud its customers.
Last month, Celsius creditors voted in favor of a restructuring plan that will see approximately $2 billion worth of Bitcoin and Ethereum returned to them. They will also receive equity distribution in a new company that has taken over some of Celsius’ old businesses..
#Heres #Celsius #CEO #Mashinsky #Officially #Headed #Trial
