Judge gives US prosecutors until Oct. 3 for discovery in case against Alex Mashinsky

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U.S. District Judge John Koeltl granted a continuance for erstwhile Celsius CEO Alex Mashinsky’s proceedings commencement date, citing the “volume of discovery” and the “complexity of the case.”

Judge gives US prosecutors until Oct. 3 for find  successful  lawsuit  against Alex Mashinsky

Attorneys with the United States Department of Justice person other clip to marque find and springiness erstwhile Celsius CEO Alex Mashinsky’s defence squad clip to reappraisal related documents.

In a July 25 order, U.S. District Judge John Koeltl said helium would exclude the clip betwixt July 25 and Oct. 3 from Speedy Trial Act calculations — the instrumentality which requires a national transgression proceedings to statesman wrong 70 days of an indictment being filed. He cited the “volume of discovery” arsenic good arsenic the “complexity of the case” against the erstwhile Celsius CEO.

“The Court finds that the ends of justness served by granting the continuance outweigh the champion involvement of the suspect and the nationalist successful a speedy trial,” said Koeltl.

The instrumentality requires prosecutors to mostly disclose immoderate accusation “favorable to an accused” that is "material either to guilt oregon to punishment” to Mashinsky’s ineligible team. The Oct. 3 league volition spot Mashinsky successful a New York courtroom conscionable 1 time aft the commencement of the proceedings against erstwhile FTX CEO Sam Bankman-Fried, who has been charged successful the aforesaid district.

Related: What transgression charges for Celsius ex-CEO mean for crypto industry

Celsius filed for Chapter 11 bankruptcy successful July 2022, weeks aft the level announced it would intermission each withdrawals without providing a definitive timeline for their return. Mashinsky resigned arsenic CEO successful September 2022.

U.S. authorities charged and arrested Mashinsky connected July 13 with securities fraud, commodities fraud and ligament fraud related to allegedly defrauding customers and misleading them astir definite accusation connected Celsius’ concern practices. The erstwhile Celsius CEO has pleaded not blameworthy to each charges and has been released connected a $40 cardinal bond.

The justice has yet to acceptable a proceedings day for the erstwhile Celsius CEO’s transgression case. The fraud charges came successful parallel to a ailment filed by the Commodity Futures Trading Commission against Mashinsky. The Securities and Exchange Commission has besides filed its ain civilian suit against the erstwhile CEO, portion the Federal Trade Commission announced it had issued a $4.7 cardinal fine to Celsius successful July.

Magazine: XRP is not a security, Celsius CEO arrested connected transgression charges, and more: Hodler’s Digest, July 9-15

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