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A New York district court confirmed the new date in a filing on Wednesday.
Mashinsky admitted in December to one count of commodities fraud and another related to a price manipulation scheme involving Celsius’s native token, CEL. These charges carry a potential maximum sentence of 20 years in prison.
Background and Charges
Federal prosecutors originally charged Mashinsky in July 2023 with multiple serious offenses, including securities fraud, wire fraud, and market manipulation. His guilty plea was part of a broader case alleging he misled investors and manipulated CEL’s price while Celsius was still operating.
Sentencing Delay
Mashinsky’s sentencing was initially set for April 8, but his legal team requested additional time to submit further materials for the court’s consideration. The delay was granted, giving attorneys a month to bolster his defense.
The outcome of this sentencing could mark one of the crypto industry’s most high-profile legal resolutions to date. Let me know if you want a visual timeline of the case or a deeper look into the charges.
The post Former Celsius CEO Alex Mashinsky to Be Sentenced May 8 appeared first on Coindoo.
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