Celsius

United

President Donald Trump

Donald Trump

<![CDATA[<figure class="image"><img src="https://cimg.co/news/125970/332604/mashinsky-3.jpg" srcset="https://cimg.co/news/125970/332604/responsive-images/mashinsky-3___media_library_original_1200_800.jpg 1200w, https://cimg.co/news/125970/332604/responsive-images/mashinsky-3___media_library_original_900_600.jpg 900w, https://cimg.co/news/125970/332604/responsive-images/mashinsky-3___media_library_original_720_480.jpg 720w, https://cimg.co/news/125970/332604/responsive-images/mashinsky-3___media_library_original_600_400.jpg 600w, https://cimg.co/news/125970/332604/responsive-images/mashinsky-3___media_library_original_300_200.jpg 300w" width="1200" class="content-img" alt=""><figcaption>Source: a video screenshot, Youtube, Nasdaq</figcaption></figure>Former Celsius Network CEO Alex Mashinsky is set to face a criminal trial beginning on September 17, 2024.The <a href="https://www.bloomberg.com/news/articles/2023-10-03/ex-celsius-chief-mashinsky-fraud-trial-set-for-september-2024">trial schedule was confirmed</a> during an October 3 hearing held in the United States District Court for the Southern District of New York, presided over by Judge John Koeltl.&nbsp;In the lead-up to the trial, there will be three pretrial conferences in March, July, and September.&nbsp;<h2 id="mashinsky-to-remain-free-on-40-million-bail">Mashinsky to Remain Free on $40 Million Bail</h2>Mashinsky, who was arrested in July, will remain free on <a href="https://cryptonews.com/news/former-celsius-ceo-alex-mashinsky-pleads-not-guilty-bail-set-at-40-million.htm">$40 million bail</a>, though his travel and certain financial transactions are subject to significant restrictions.<a href="https://cryptonews.com/news/celsius-networks-alex-mashinsky-arrested-as-us-authorities-sue-bankrupt-crypto-lender.htm">Mashinsky's legal troubles</a> stem from allegations of misleading Celsius investors and defrauding users of the platform out of billions of dollars.&nbsp;In response to these allegations, authorities froze many of his assets, including bank accounts and property, back in September.Roni Cohen-Pavon, the former Chief Revenue Officer of Celsius Network, has already pleaded guilty to four criminal charges in connection with the case.&nbsp;He is currently out on bail and will be available to testify during Mashinsky's trial, which is a significant development in the ongoing legal proceedings.<h2 id="celsius-filed-for-bankruptcy-in-july">Celsius Filed for Bankruptcy in July</h2>These legal actions come following Celsius Network's filing for bankruptcy in July 2022 and Mashinsky's resignation as CEO in September 2022.&nbsp;Government agencies such as the U.S. Commodity Futures Trading Commission, Securities and Exchange Commission, and Federal Trade Commission have pursued cases against both Celsius Network and Mashinsky.Currently, <a href="https://cryptonews.com/news/celsius-network-seeks-final-court-approval-to-begin-customer-repayments-by-year-end.htm">Celsius creditors are waiting for the final court approval</a> to get their assets back based on a restructured proposal by bankruptcy court.&nbsp;The unfolding events surrounding Mashinsky's trial are part of a broader legal landscape involving high-profile cases in the cryptocurrency industry and beyond.The trial of Sam Bankman-Fried, the former CEO of FTX, has commenced with jury selection, while former U.S. President Donald Trump is facing a civil fraud lawsuit linked to his business practices.
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Former Celsius CEO Alex Mashinsky's Criminal Trial Set for September 2024

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