- The judge rescheduled the hearing for the fall of 2023.
- The decision was justified by the complexity of the case and voluminous investigative files.
- Alex Mashinsky was arrested on July 13 on charges of “unlawful sales of securities.”
The U.S. Attorney’s Office has asked the court hearing the case against former Celsius CEO Alex Mashinsky for more time to gather evidence. The next meeting will be held after October 3, 2023. This was reported by Blockworks, citing court documents.
District Judge John Koeltl excluded the period from July 25 to Oct. 3 from the calculation of the U.S. Speedy Trial Act. This law requires a federal criminal trial to begin within 70 days of indictment.
“Through this delay, the ends of justice will be fully served,” Judge Koeltl emphasized.
The U.S. Department of Justice has accused Alex Mashinsky and Roni Cohen-Pevon, a former chief revenue officer, of providing false information to clients. According to the indictment, the former Celsius executive made false statements and manipulated CEL, the cryptocurrency exchange’s native token.
Federal Trade Commission and Commodity Futures Trading Commission have also filed lawsuits against the Celsius CEO. Department officials allege the cryptocurrency exchange used risky investment strategies and provided customers with huge sums in the form of unsecured loans.
In January, New York Attorney General Letitia James charged the founder of Celsius with fraud in January. On July 14, Mashinsky was released on $40 million bail. He categorically denies the allegations against him.
He has categorically denied the charges against him.