4 hours ago
1
Though Alex Mashinsky's sentencing was still pending, the US government said it did not oppose his voluntarily surrendering after his daughter's wedding.
Former Celsius CEO Alex Mashinsky will probably be allowed to travel for his daughter’s wedding regardless of the outcome of his May 8 sentencing hearing.
In a May 8 filing in the US District Court for the Southern District of New York, Judge John Koeltl approved an application for Mashinsky to travel from New York to Memphis, Tennessee, between May 26 and May 29 for his daughter’s wedding. The approval was available on the public docket on May 8, but later appeared to have been removed.
Judge Koeltl will determine in a May 8 hearing whether Mashinsky serves prison time following a plea deal with prosecutors.
The former Celsius CEO appeared ready to go to trial in 2024 until his lawyers lost a motion to have his charges dismissed. He pleaded guilty to commodities fraud and a fraudulent scheme to manipulate the price of the platform’s native token, CEL.
Related: Celsius’ Mashinsky lashes out at ‘death-in-prison sentence’
Mashinsky has been free on a $40-million bond since July 2023, with travel outside certain areas requiring court approval, such as the roughly 900-mile (1,500-kilometer) distance between New York and Memphis. At the time of publication, it’s unclear if he will be expected to surrender to authorities.
Potentially facing decades in prison
Prosecutors have asked the judge to impose a 20-year sentence on the former Celsius CEO, while Mashinsky’s lawyers requested that he serve one year and one day in prison. The hearing could be a bellwether for how criminal cases involving cryptocurrency could change under the Trump administration, which appointed the interim US Attorney for the court district.
On April 17, Mashinsky’s lawyers submitted a letter from his oldest daughter, Rena, in support of her father ahead of sentencing. She said he did not deserve a “severe punishment,” claiming that he “never set out to steal from anyone.” Other members of his family penned similar letters.
The same court district oversaw the sentencing of former FTX CEO Sam “SBF” Bankman-Fried, who is currently serving 25 years in prison.
Magazine: ‘Less flashy’ Mashinsky set for less jail time than SBF: Inner City Press, X Hall of Flame
This is a developing story, and further information will be added as it becomes available.
English (US) · 