This is when Mashinsky, the former CEO of Celsius, officially takes over the helm of the company Cryptocurrency scrgruppen

Alex Mashinsky – the former head of defunct cryptocurrency lending company Celsius – is scheduled to begin his criminal fraud trial on September 17, 2024.

  • U.S. District Judge John Koeltl confirmed the news during a hearing Tuesday, adding that there will be three preliminary conferences in March, July and September.
  • In the meantime, Mashinsky will remain free on $40 million bail, while still subject to electronic monitoring and significant limits on expenses over $10,000.
  • Mashinsky is beleaguered with a host of fraud and conspiracy charges related to the subprime lending company, one of which includes securities fraud. The prosecution includes the Federal Trade Commission (FTC) and the Securities and Exchange Commission (SEC).
  • Speaking before the judge on Tuesday, Mashinsky’s defense lawyers hinted that part of their defense may be the claim that cryptocurrencies are not securities, which remains a controversial legal issue in the United States.
  • “The law regarding security is fluid,” defense attorney Robert Frenchman said. Bloomberg.
  • The trial date stands more than a year after FTX founder Sam Bankman-Fried (SBF)’s trial, which began on Tuesday.
  • Like Mashinsky, FTX is charged with commodity fraud, securities fraud, and wire fraud, along with conspiracy to defraud stock exchange customers.
  • Last month, Celsius’ creditors voted in favor of a restructuring plan that will see the return of nearly $2 billion worth of Bitcoin (BTC) and Ethereum (ETH), along with the distribution of shares in a new company that inherited some of Celsius’ old businesses.
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Cryptocurrency scrgruppen

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