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Prosecutors urge judge to reject Mashinsky bid to overturn Celsius case
Prosecutors in SDNY said Mashinsky’s arguments, including claims tied to FTX and Roni Cohen-Pavon, are without merit, as he seeks to vacate a 144-month sentence.
Prosecutors in the Southern District of New York are pushing a federal judge to deny former Celsius CEO Alex Mashinsky’s bid to vacate his conviction and sentence, arguing his legal claims lack merit. According to a Friday court filing cited by Cointelegraph, the government urged the court to reject the petition, including challenges centered on allegations of ineffective assistance of counsel.
Mashinsky, who is already serving a 12-year federal prison term, is seeking to overturn his May 2025 conviction for fraud and market manipulation related to activities at now-defunct Celsius. Cointelegraph reports that he pleaded guilty to commodities fraud and securities fraud tied to “manipulative and deceptive devices,” and he was sentenced to 144 months in prison.
The filing also addresses Mashinsky’s effort to contest the case while representing himself. Cointelegraph says that in May he told the court he would proceed pro se and filed a motion to vacate that included references to cryptocurrency exchange FTX and to Roni Cohen-Pavon, the company’s chief revenue officer.
Cohen-Pavon, prosecutors said, provided substantial assistance in the government’s case and was sentenced to time served in May, Cointelegraph reports. The article further notes that Mashinsky was ordered to pay $48 million in forfeiture at sentencing and agreed to pay $10 million in a separate settlement with the US Federal Trade Commission.