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Tuesday, 03 October 2023
Former Celcius director pleads guilty to criminal charges

Former Celcius director pleads guilty to criminal charges

Roni Cohen-Pavon, the former chief revenue officer of cryptocurrency lender Celsius, has reportedly pleaded guilty to charges related to fraud and price manipulation.According to a September 13 decision of the United States District Court for the Southern District of New York, Cohen-Pavon pleaded guilty to conspiracy to manipulate prices, securities fraud, manipulating securities prices and electronic fund fraud. He will be released on bail until December. 11 convictions. CRYPTO CRIMES: cellmate of #Celsius Makinski has been found guilty, now Cohen Pavon has been sentenced on December 11 - Inner City Press release: https://t.co/YxpFzjHd4h pic.twitter.com/Njy5JOsmawReuters they reported The guilty plea was part of an agreement with the prosecution that required Cohen-Pavon to compensate the parties affected by Celsius's collapse for the damage caused. Former CEO Alex Makinski allegedly made a profit of about $ 42 million from the sale of the Celsius token (CEL) by artificially inflating its price, while Cohen-Pavon allegedly made about $ 3.6 million.The US Department of Justice filed charges against two former Celsius executives in July, but the whereabouts of Cohen Pavon, who was residing in Israel at the time, were virtually unknown. Makinski has pleaded not guilty to all charges and was free on $40 million bail at the time of publication.Related: Celsius Network elephantregarding a competitor's complaint against the shares, a federal judge initially at the hearing allowed U.S. authorities to freeze some of Mashinsky's assets, including some bank accounts and real estate in Austin, Texas. On September 11, lawyers for the former Celsius CEO filed a lawsuit to end the Federal Trade Commission's case against him, claiming that the charges did not meet fraud standards.At the time of publication, De Celsius Network's bankruptcy case, which was filed in July 2022, was still ongoing. August October The proposed settlement plan will be submitted to the bankruptcy court.Magazine: Tiffany Fong flames Celsius, FTX and NY Post: Flame Salon

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