Alex Mashinsky’s Fraud and Price Manipulation Case: DOJ Requests Time for Evidence
Alex Mashinsky, founder and former CEO of crypto lender Celsius, was recently arrested on charges of fraud and price manipulation. The U.S. Department of Justice (DOJ) has requested six to eight weeks to gather evidence for the case. Here are the key points:
- The DOJ needs time to process a large amount of Celsius’ corporate records and communications, including over 1,200 videos of Mashinsky and other executives’ ask-me-anything sessions.
- Mashinsky has pleaded not guilty to charges of securities fraud, commodities fraud, wire fraud, and conspiracy to manipulate the price of CEL, Celsius’ token.
- Lawyer Marc Mukasey is representing Mashinsky in court.
- Judge John G. Koeltl has scheduled the next conference date for October 3, with the trial date yet to be determined.
- Mashinsky’s team has been given extra time to meet the terms of his $40 million bail.
Hot Take: The DOJ’s request for more time to gather evidence suggests that this case against Alex Mashinsky is complex and involves a significant amount of information. It remains to be seen how the evidence will unfold and what impact it will have on the future of Celsius and Mashinsky himself.
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