Former Executive of Celsius Pleads Guilty and Assists in Prosecution of Mashinsky

Former Celsius Executive Pleads Guilty to Criminal Charges

Roni Cohen-Pavon, the former Chief Revenue Officer of bankrupt crypto lender Celsius, has pleaded guilty to multiple criminal charges and has agreed to cooperate with the U.S. Attorney for the Southern District of New York in ongoing investigations. The Department of Justice (DOJ) charged Cohen-Pavon and former Celsius CEO Alex Mashinsky in July for allegedly deceiving customers about the value of the CEL token.

Guilty Plea Details

In a court filing on September 13, Cohen-Pavon pleaded guilty to conspiracy to manipulate the price of a security (CEL token), manipulation of a security price and volume, wire fraud, and securities fraud. While he will not face prosecution for criminal tax violations, he has agreed to make restitution and forfeit any money or properties derived from his crimes.

Release on Bond

Cohen-Pavon was released on a $500,000 bond and is permitted to travel between New York and Israel until his sentencing on December 11.

Cooperation Agreement

As part of his guilty plea, Cohen-Pavon has committed to fully cooperate with the prosecution office and other law enforcement agencies involved in Celsius cases. This includes providing truthful information and testimony against Mashinsky, who has pleaded not guilty to all charges.

Hot Take: Former Celsius Executive Pleads Guilty and Agrees to Cooperate

Roni Cohen-Pavon, the former Chief Revenue Officer of Celsius, has entered a guilty plea and agreed to assist in further investigations. Charged with multiple criminal counts alongside former CEO Alex Mashinsky, Cohen-Pavon admitted to participating in a scheme to deceive customers about the CEL token’s value. While he will not face criminal tax charges, Cohen-Pavon will make restitution and forfeit proceeds from his crimes. He has been released on bond and will be sentenced in December. As part of his guilty plea, Cohen-Pavon will cooperate fully with the prosecution office and other law enforcement agencies, likely providing testimony against Mashinsky.