<\/p>\n
Roni Cohen-Pavon, former chief revenue officer at Celsius, pled guilty to four charges according to multiple reports on Thursday.<\/p>\n
Bloomberg reported that the charges included fraud, securities price manipulation and conspiracy. His sentencing is set for December 2024, and he has a chance of leniency depending on his cooperation in the case against his former boss, Alex Mashinsky.\u00a0<\/p>\n
Cohen-Pavon and former CEO Mashinsky are accused of inflating \u201cthe price of Celsius\u2019s proprietary token, CEL,\u201d in a July Department of Justice indictment.<\/p>\n
The DOJ claims that both Mashinsky and Cohen-Pavon<\/a> discussed artificially inflating Celsius (CEL<\/a>) in WhatsApp messages.<\/p>\n \u201cWe\u2019re not just sitting and watching the price. We\u2019re on it all week and even now [another Celsius executive] and I are live with the market maker. The issue is that people are selling and no one is buying except for us,\u201d Mashinsky allegedly said.<\/p>\n Cohen-Pavon is named as a co-defendant in the DOJ\u2019s suit against Mashinsky<\/a>, who also stands accused of defrauding investors. He faces a suit from the Federal Trade Commission as well as the DOJ.<\/p>\n An unsealed order in September<\/a> showed that prosecutors froze Mashinsky\u2019s assets in August.<\/p>\n Mashinsky\u2019s lawyers filed a motion to dismiss the FTC suit<\/a> on Tuesday, Sept. 12, claiming that the FTC does not \u201callege a violation of an FTC rule.\u201d<\/p>\n However, lawyers for his co-defendant Hanoch Goldstein said, \u201cMashinsky was responsible for leading almost all of the acts of misconduct alleged in the Complaint, including conducting weekly marketing and advertising videos called \u2018Ask Mashinsky Anything.\u201d<\/p>\n Mashinsky\u2019s legal team did not immediately respond to a request for comment on Cohen-Pavon\u2019s plea.<\/p>\n Get the day\u2019s top crypto news and insights delivered to your email every evening.\u00a0Subscribe to Blockworks\u2019 free newsletter<\/a>\u00a0now.<\/strong><\/p>\n Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can\u2019t-miss tweets and more from\u00a0Blockworks Research\u2019s Daily Debrief<\/a>.<\/strong><\/p>\n Can\u2019t wait? Get our news the fastest way possible.\u00a0Join us on Telegram<\/a>\u00a0and follow us on\u00a0Google News<\/a>.<\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Roni Cohen-Pavon, former chief revenue officer at Celsius, pled guilty to four charges according to multiple reports on Thursday. Bloomberg reported that the charges included fraud, securities price manipulation and conspiracy. His sentencing is set for December 2024, and he has a chance of leniency depending on his cooperation in the case against his former […]<\/p>\n","protected":false},"author":2,"featured_media":156384,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-156383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=156383"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156383\/revisions"}],"predecessor-version":[{"id":156390,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/156383\/revisions\/156390"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/156384"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=156383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=156383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=156383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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