Key facts
- US prosecutors have opposed Alex Mashinsky's motion to vacate his 12-year prison sentence.
- Prosecutors stated that Mashinsky's legal arguments are 'without merit' and pushed back against claims of ineffective counsel.
- Mashinsky, former CEO of Celsius, pleaded guilty to commodities fraud and securities fraud.
- He was sentenced in May 2025 to 144 months in prison and ordered to pay $48 million in forfeiture.
- Mashinsky is representing himself in the current legal proceedings.
Federal prosecutors in the Southern District of New York have urged a court to deny a motion filed by Alex Mashinsky, the former CEO of Celsius, to vacate his 12-year prison sentence. In a filing on Friday, prosecutors stated that Mashinsky's arguments were "without merit" and pushed back against his claims of ineffective assistance of counsel.
Mashinsky, who is representing himself, informed the court in May that he would proceed pro se and filed the motion to vacate, which included allegations related to FTX and his former colleague, Roni Cohen-Pavon. Prosecutors noted that Mashinsky has not submitted a sworn declaration to support his claims and that he is blaming others for Celsius's problems rather than asserting factual innocence.
Mashinsky was sentenced in May 2025 to 144 months in prison after pleading guilty to commodities fraud and securities fraud. Cohen-Pavon, who provided substantial assistance to the prosecution, received a time-served sentence in May. Celsius was one of several crypto companies that filed for bankruptcy in 2022.
Additionally, the US Commodity Futures Trading Commission (CFTC) permanently banned Mashinsky from trading in commodities markets in June. The US Securities and Exchange Commission (SEC) also has an ongoing civil action against Mashinsky, with settlement discussions reportedly underway as of July 30.