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A U.S. court will pronounce its verdict on May 8 against former Celsius CEO Alex Mashinsky
A document from the U.S. District Court for the Southern District of New York shows that former Celsius CEO Alex Mashinsky will be sentenced on May 8 for fraud and manipulation of CEL Token prices. Mashinsky was arrested in July 2023 and faces multiple charges including commodity fraud and securities fraud. He later pleaded guilty to one count of commodity fraud and one count of price manipulation in December last year, potentially facing up to 20 years in prison. The sentencing originally scheduled for April 8 was postponed by a month at the request of the defense to submit additional evidence. Celsius once held $13 billion in customer deposits and filed for bankruptcy in 2022 due to a market crash. (TheBlock)