![[News] China Makes Breakthrough in Chip Technology, Paving the Way for Lithography Advancements – TrendForce](https://earth-news.info/wp-content/uploads/2025/11/324664-news-china-makes-breakthrough-in-chip-technology-paving-the-way-for-lithography-advancements-trendforce-360x180.jpg)
In
a significant development within the cryptocurrency sector, Roni Cohen-Pavon,
the former Chief Revenue Officer (CRO) of Celsius, has entered a guilty plea in
the United States District Court for the Southern District of New York. The
plea comes in response to a series of charges related to fraud and price
manipulation in the digital asset space.
Cohen-Pavon,
who had previously faced an uncertain legal status due to his residency in
Israel, has now pleaded guilty to multiple charges. These include conspiracy to
commit price manipulation, securities fraud, manipulation of security prices,
and wire fraud. As part of the plea agreement, he will remain free on bail
until his sentencing hearing, scheduled for December 11, 2023.
The
charges stem from allegations that former Celsius CEO, Alex Mashinsky
orchestrated a scheme to artificially inflate the price of the Celsius token,
thereby making substantial profits. Mashinsky, who has pleaded not guilty to
all charges, allegedly earned approximately $42 million from these activities,
while Cohen-Pavon is said to have gained roughly $3.6 million.
CRYPTO CRIMES: #Celsius’ Mashinsky Co-Defendant Pleads Guilty Now Cohen-Pavon To Be Sentenced Dec 11 – Inner City Press story: https://t.co/YxpFzjHd4h pic.twitter.com/Njy5JOsmaw
— Inner City Press (@innercitypress) September 14, 2023
This
development follows the U.S. Justice Department’s announcement of charges
against both former Celsius executives in July, marking a significant step in
the legal proceedings against them. While Cohen-Pavon has opted to plead
guilty, Mashinsky continues to contest the allegations and is currently free on
a $40 million bond.
In
addition to the legal actions against Mashinsky and Cohen-Pavon, U.S.
authorities have frozen some of Mashinsky’s assets, including specific bank
accounts and a property located in Austin, Texas. This asset freezing aims to
secure potential restitution for parties affected by the collapse of Celsius.
Lawyers,
representing Mashinsky, filed a motion seeking the dismissal of the Federal
Trade Commission’s (FTC) case against him. Their argument hinges on the
assertion that the allegations made by the FTC do not meet the necessary legal
standards for a claim.
The
broader implications of these legal battles extend to Celsius Network’s ongoing bankruptcy case,
which was filed in July 2022. A proposed settlement plan, put forth in August,
is set to undergo review by a bankruptcy judge in October, potentially paving
the way for resolution and restitution for affected parties.
Celsius Network Founder
Arrested in New York
The
Finance
Magnates
reported earlier that Mashinsky, the Founder of the cryptocurrency lender
Celsius Network, was arrested in New York on July 13, 2023,
following a series of lawsuits and regulatory actions by the United States
Department of Justice (DOJ) and various regulators against him and the company.
The DOJ complaint, filed in a New York district court, outlines seven counts of
charges, encompassing securities, commodities, and wire fraud, along with
allegations of token manipulation, targeting both Mashinsky and Cohen-Pavon.
As
the legal saga surrounding Celsius and its former executives unfolds, it
remains a closely watched case within the cryptocurrency industry, where regulatory
scrutiny and legal accountability continue to evolve alongside the escalating
digital asset market.
In
a significant development within the cryptocurrency sector, Roni Cohen-Pavon,
the former Chief Revenue Officer (CRO) of Celsius, has entered a guilty plea in
the United States District Court for the Southern District of New York. The
plea comes in response to a series of charges related to fraud and price
manipulation in the digital asset space.
Cohen-Pavon,
who had previously faced an uncertain legal status due to his residency in
Israel, has now pleaded guilty to multiple charges. These include conspiracy to
commit price manipulation, securities fraud, manipulation of security prices,
and wire fraud. As part of the plea agreement, he will remain free on bail
until his sentencing hearing, scheduled for December 11, 2023.
The
charges stem from allegations that former Celsius CEO, Alex Mashinsky
orchestrated a scheme to artificially inflate the price of the Celsius token,
thereby making substantial profits. Mashinsky, who has pleaded not guilty to
all charges, allegedly earned approximately $42 million from these activities,
while Cohen-Pavon is said to have gained roughly $3.6 million.
CRYPTO CRIMES: #Celsius’ Mashinsky Co-Defendant Pleads Guilty Now Cohen-Pavon To Be Sentenced Dec 11 – Inner City Press story: https://t.co/YxpFzjHd4h pic.twitter.com/Njy5JOsmaw
— Inner City Press (@innercitypress) September 14, 2023
This
development follows the U.S. Justice Department’s announcement of charges
against both former Celsius executives in July, marking a significant step in
the legal proceedings against them. While Cohen-Pavon has opted to plead
guilty, Mashinsky continues to contest the allegations and is currently free on
a $40 million bond.
In
addition to the legal actions against Mashinsky and Cohen-Pavon, U.S.
authorities have frozen some of Mashinsky’s assets, including specific bank
accounts and a property located in Austin, Texas. This asset freezing aims to
secure potential restitution for parties affected by the collapse of Celsius.
Lawyers,
representing Mashinsky, filed a motion seeking the dismissal of the Federal
Trade Commission’s (FTC) case against him. Their argument hinges on the
assertion that the allegations made by the FTC do not meet the necessary legal
standards for a claim.
The
broader implications of these legal battles extend to Celsius Network’s ongoing bankruptcy case,
which was filed in July 2022. A proposed settlement plan, put forth in August,
is set to undergo review by a bankruptcy judge in October, potentially paving
the way for resolution and restitution for affected parties.
Celsius Network Founder
Arrested in New York
The
Finance
Magnates
reported earlier that Mashinsky, the Founder of the cryptocurrency lender
Celsius Network, was arrested in New York on July 13, 2023,
following a series of lawsuits and regulatory actions by the United States
Department of Justice (DOJ) and various regulators against him and the company.
The DOJ complaint, filed in a New York district court, outlines seven counts of
charges, encompassing securities, commodities, and wire fraud, along with
allegations of token manipulation, targeting both Mashinsky and Cohen-Pavon.
As
the legal saga surrounding Celsius and its former executives unfolds, it
remains a closely watched case within the cryptocurrency industry, where regulatory
scrutiny and legal accountability continue to evolve alongside the escalating
digital asset market.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FinanceMagnates – https://www.financemagnates.com//cryptocurrency/celsius-fraud-and-price-manipulation-former-chief-revenue-officer-pleads-guilty/
