Judge denies ex-Celsius CEO’s bid to dismiss fraud, manipulation charges

Legal representatives representing Alex Mashinsky, the previous CEO of the crypto platform Celsius facing a criminal indictment in the United States, have actually lost a movement to drop two charges related to commodities scams and manipulating the cost of the Celsius (CEL) token.In a Nov. 8 filing in the United States District Court for the Southern District of New York, Judge John Koeltl ruled that Mashinskys legal groups arguments to have actually the charges dismissed were “either moot or without merit.” The judge denied the movement to dismiss the two charges, leaving 7 rely on the indictment for the former Celsius CEOs trial, scheduled to start in January 2025. Source: SDNYThe former Celsius CEOs legal representatives declared that the commodities and securities fraud charges were inconsistent, as district attorneys alleged the platforms Earn Program was treated as a security while the Bitcoin (BTC) transferred by financiers were products. Mashinsky also declared that he did not have “reasonable warning” that presumably controling the price of CEL (CEL) was a criminal charge.The movement to dismiss the two charges filed in January consisted of a request for Judge Koeltl not to allow info on Celsius insolvency to be included in the criminal case. The judge decreased to pick the movement on Nov. 8, suggesting he would react to movements in limine or at trial. Questions about FTX for jurorsFollowing the Nov. 8 order, Mashinskys legal representatives likewise requested they be permitted to ask potential jurors concerns about their understanding of the defunct cryptocurrency exchange FTX. According to the legal team, there will “certainly” be testament about FTX at trial, and the exchange was “toxic in the cryptocurrency world.” Related: Celsius token rises 300% a month after $2.5 B payment to creditorsAuthorities apprehended and charged Mashinsky with 7 felony counts in July 2023. He pleaded not guilty and has been complimentary to take a trip with restrictions on a $40 million bond.Former Celsius chief revenue officer Roni Cohen-Pavon, indicted along with Mashinsky, likewise faces charges for “illegally” controling the CEL rate. Cohen-Pavon initially pleaded not guilty however later altered his plea to guilty. He is scheduled to be sentenced on Dec. 11. Magazine: Less flashy Mashinsky set for less prison time than SBF: Inner City Press, X Hall of Flame