Federal prosecutors blast ex-Celsius CEO’s motion to vacate as ‘without merit’
Despite already serving a 12-year sentence in federal prison, Alex Mashinsky continues to explore legal avenues to vacate his conviction related to activities at Celsius.
Federal prosecutors in the Southern District of New York have dismissed former Celsius CEO Alex Mashinsky's motion to vacate his 12-year sentence, describing it as "without merit." Mashinsky, who pleaded guilty to fraud and market manipulation related to Celsius, is attempting to vacate his conviction on various claims, including those related to cryptocurrency exchange FTX and his former colleague, Celsius chief revenue officer Roni Cohen-Pavon.
However, prosecutors argue that many of Mashinsky's legal arguments are baseless and present a litany of complaints blaming others for problems at Celsius. Cohen-Pavon, who provided "substantial assistance" to prosecutors, was previously sentenced to time served. Mashinsky was sentenced in May 2025 to serve 144 months in prison and has been representing himself in the case.
The US Commodity Futures Trading Commission (CFTC) has permanently banned Mashinsky from trading in commodities markets, while the SEC's ongoing civil action against him is still being settled.
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