The former Chief Revenue Officer of Celsius pleaded guilty to four criminal charges, including price manipulation, and has been released on a $40 million bail

2023-09-15 08:50:02

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ChainCatcher news, according to Cointelegraph, documents submitted to the U.S. District Court for the Southern District of New York on September 13 show that former Chief Revenue Officer of the crypto lending company Celsius, Roni Cohen-Pavon, pleaded guilty to four criminal charges of conspiracy to commit price manipulation, securities fraud, manipulation of securities prices, and wire fraud. He has posted a $40 million bail and is released until the sentencing hearing on December 11.

The plea is part of an agreement with prosecutors that requires Cohen-Pavon to compensate parties affected by the collapse of Celsius. It is alleged that former CEO Alex Mashinsky profited approximately $42 million from the sale of CEL tokens by artificially inflating prices, while Cohen-Pavon earned about $3.6 million.

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