Former Celsius executive pleads guilty to price manipulation charges
Roni Cohen-Pavon, the former chief revenue officer at Celsius, has pleaded guilty to four criminal charges before a federal court in Manhattan, New York. Cohen-Pavon admitted to manipulating the market price of CEL, the primary cryptocurrency issued by bankruptcy digital asset lender Celsius. The ruling on Sep. 13 was issued by U.S. District Judge John Koeltl, according to Reuters. Following his guilty plea, Cohen-Pavon’s sentencing was set for Dec. 11, 2024. The former executive was indicted in July 2024 while federal prosecutors charged Celsius founder Alex Mashinshky with fraud and conspiracy. Attorneys from the Justice Department alleged that Mashinsky conspired with Cohen-Pavon to artificially inflate CEL’s price and mislead investors. Prosecutors also said the ex-Celsius boss defrauded customers and lied about the company’s finances. You might also like: US DOJ freezes Alex Mashinsky’s assets in Celsius case A report from an independent court-appointed exami...