Federal prosecutors urge a court to deny Alex Mashinsky’s motion to vacate his 12-year sentence for fraud and market manipulation.
Federal prosecutors in the Southern District of New York have dismissed as meritless a motion by former Celsius CEO Alex Mashinsky to vacate his 12-year prison sentence for fraud and market manipulation. The filing, submitted Friday, argues Mashinsky’s legal claims lack supporting evidence and rehash arguments already presented during sentencing.
Mashinsky, who is representing himself, filed the motion in May, alleging ineffective assistance of counsel and pointing to FTX and a former colleague in his defense. Prosecutors countered that his allegations are baseless and unsupported by sworn testimony, urging the court to deny the petition without further review.
The case stems from the collapse of Celsius, a cryptocurrency lending platform, where Mashinsky was convicted of defrauding investors and manipulating markets. His sentence was handed down earlier this year after a high-profile trial.