Mashinsky Seeks Dismissal of Key Charges in the High-Profile Celsius Trial
Alex Mashinsky, the former CEO of Celsius, is currently involved in a significant legal battle. He faces seven felony charges, and his trial is scheduled for September 2024. Amid these developments, Mashinsky's legal team has taken two notable steps: seeking the dismissal of two charges and requesting the exclusion of Celsius' bankruptcy from the trial. Cointelegraph
Request for Dismissal of Charges
Mashinsky's lawyers filed a motion in the United States District Court for the Southern District of New York, seeking to dismiss two specific charges:
Commodities Fraud: Mashinsky's team argues that the second count of commodities fraud is inconsistent with the first count of securities fraud, given the government's treatment of crypto. The defense argues that the Earn Program cannot be simultaneously considered a security and a commodity.
Market Manipulation (Count Six): The defense further contends that this charge should be dismissed due to a lack of fair notice, claiming that the government essentially invented a criminal offense for what should be a civil violation.
Celsius Bankruptcy Exclusion
In addition to challenging specific charges, Mashinsky's legal team has asked that references to Celsius's bankruptcy be stricken from the indictment. They argue that the inclusion of the bankruptcy details could unfairly influence the trial proceedings.