Federal prosecutors blast ex-Celsius CEO’s motion to vacate as ‘without merit’
US prosecutors in SDNY are opposing Alex Mashinsky’s bid to vacate his 12-year fraud and market-manipulation sentence. They say his claims of ineffective counsel and other arguments are meritless, unsupported, and largely rehash prior sentencing evidence. Mashinsky, who is representing himself, filed the motion in May and raised allegations involving FTX and former Celsius executive Roni Cohen-Pavon, but prosecutors say he provided no sworn declaration and should be denied a hearing. Mashinsky pleaded guilty to commodities fraud and securities fraud tied to deceptive practices at Celsius and was sentenced in May 2025 to 144 months, plus $48 million in forfeiture. Celsius collapsed in 2022 amid the crypto downturn; Mashinsky and Cohen-Pavon were indicted in 2023. Separate regulatory actions have also continued, including a CFTC trading ban and ongoing SEC settlement talks.
