After a failed attempt to Alex Mashinskydefense team to have charges against him, the former CEO of Celcius, dismissed reached a plea deal with U.S. federal prosecutors. on December 3 during a audience in the Southern District of New York.
Mashinsky confirmed that he would admit guilt to two criminal charges. He confessed Falsely claiming that you were not downloading your CEL
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$0.2571
chipsassuming full responsibility for their actions.
He also acknowledged that there was misled investors about the Celsius Earn program, falsely claiming the platform had regulatory approval. This misleading information encouraged people to sell their Bitcoin.
btc
$96,458.41
holdings, ultimately generating an estimated $42 million in illicit profits for him.
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Mashinsky is ready to be sentenced April 8, 2025. Mashinsky initially pleaded not guilty to all charges and was released on $40 million bail with travel restrictions, while his trial was scheduled to begin in January 2025.
Of the seven charges initially filed by prosecutors in July 2023, Mashinsky’s plea deal allows him to admit guilt only before two. If sentenced to the maximum penalty on both counts, Mashinsky could face up to 30 years in prison, with the sentences to be served consecutively, according to Judge John Koeltl.
Meanwhile, in another high-profile case, FTX co-founder Gary Wang walked free after serving his sentence. How did you manage to avoid a major punishment? Read the full story.
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