Former Celsius Chief Revenue Officer Pleads Guilty to Fraud and Price Manipulation

Former Celsius Chief Revenue Officer, Roni Cohen-Pavon, has pleaded guilty to charges related to fraud and price manipulation. Learn more about the case and its implications.

Posted 8 months ago in Security


Former Celsius Chief Revenue Officer Pleads Guilty Roni Cohen-Pavon, the former chief revenue officer of cryptocurrency lending firm Celsius, has pleaded guilty to charges related to fraud and price manipulation. According to a filing in the United States District Court for the Southern District of New York, Cohen-Pavon pleaded guilty to conspiracy to commit price manipulation, securities fraud, manipulation of security prices, and wire fraud.Cohen-Pavon will be free on bail until a Dec. 11 sentencing hearing. The guilty plea was part of an agreement requiring him to make restitution to parties affected by the collapse of Celsius.In July, the U.S. Justice Department announced charges against Cohen-Pavon and former Celsius CEO Alex Mashinsky. Mashinsky allegedly made $42 million in profits from sales of the Celsius (CEL) token by artificially inflating the price, while Cohen-Pavon earned around $3.6 million. Mashinsky pleaded not guilty to all charges.In the legal proceedings, U.S. authorities were allowed to freeze some of Mashinsky's assets, including certain bank accounts and an Austin, Texas property. The bankruptcy case of Celsius Network, filed in July 2022, is ongoing, and a settlement plan proposed in August is set to be reviewed by a bankruptcy judge in October.

Last updated 9/14/2023, 8:06:08 PM

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