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 10 months ago in Security
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
0
0
Flag
Share
3 Views
55673844-7abc-4ad8-88d7-e3d47ffc4734
Related Articles
Justin Sun Addresses HTX Customers After $8M Hack: Measures Taken to Protect User Assets
Posted 10 months ago in Security
FTX Hack: $4 Million Worth of ETH Associated with Bankrupt Crypto Empire Starts Moving
Posted 9 months ago in Security
News Letter
Subscribe to the CryptoCat.ai newsletter to stay updated with the latest cryptocurrency news, insightful articles, market trends, and more – delivered directly to your inbox!
Is email too old school? Well you can get your news directly on twitter just by following us
Follow Us