Former Celsius CEO Alex Mashinsky Waives Conflict of Interest, Proceeds with SBF Lawyers
Former Celsius Networkβs CEO Alex Mashinsky has decided to waive any potential conflicts of interest that may arise from choosing the same legal representation as Sam Bankman-Fried, the founder of FTX. In a court hearing on February 20, Mashinsky informed a US Federal Judge that he will be represented by Marc Mukasey and Torrey Young, as reported by Bloomberg.
Mashinsky Gives the Go-Ahead
Despite facing fraud-related charges, Mashinsky has made the decision to proceed with using the services of the same lawyers who are representing Bankman-Fried. He acknowledges the potential conflict of interests involved but believes that it won’t affect his case. Mashinsky has consulted an independent attorney on this matter and is confident in his choice of legal representation.
Prosecutors Draw Lines Between Two Defendants
Prosecutors have raised concerns about potential conflicts of interest due to the history of business relationships between Mashinsky and Bankman-Fried before their respective companies collapsed. Mashinsky had previously admitted to lending funds to Alameda Research, a subsidiary of FTX, and blamed Celsius’s collapse on Alameda Research’s actions. There were also talks about Bankman-Fried acquiring Celsius and replacing Mashinsky as CEO. However, these issues do not impact Mashinsky’s rights and can be waived with his consent.
Hot Take: Former Celsius CEO Alex Mashinsky is confident in his choice of legal representation despite potential conflicts of interest.
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