Mashinsky Seeks to Overturn 12-Year Celsius Fraud Sentence in NY Court

• Alex Mashinsky files motion to vacate conviction and sentence, claiming tainted evidence and ineffective counsel.
• Mashinsky alleges Sam Bankman-Fried and ex-CRO Roni Cohen-Pavon were involved in key actions related to market manipulation.

On May 30, 2026, Courtlistener reported that Alex Mashinsky, the former CEO of Celsius, filed a motion in the US District Court for the Southern District of New York to vacate his 12-year prison sentence for fraud and market manipulation. Mashinsky is now representing himself pro se after his legal counsel withdrew.

Mashinsky claimed his conviction arose from ineffective legal representation and alleged prosecutorial misconduct, referencing the “fruit of the poisonous tree” doctrine. He argued that evidence and communications presented in his criminal case were tainted, raising questions about the fairness of his trial process.

Mashinsky directly named Sam Bankman-Fried, former CEO of FTX, as orchestrating market manipulation targeting Celsius’ CEL token. He accused Bankman-Fried of deliberately trying to “destroy Celsius” through fraudulent trading activity.

Mashinsky’s motion also referenced Roni Cohen-Pavon, Celsius’ former chief revenue officer, who previously pleaded guilty and was sentenced to time served for cooperating with federal prosecutors. Mashinsky accused Cohen-Pavon of attempting a “hostile takeover” of the company during the crisis.

During his criminal sentencing in 2025, Mashinsky faced not only the 12-year prison term but was ordered to pay $48 million in forfeiture. He also agreed to pay $10 million to the US Federal Trade Commission, which suspended a $4.72 billion monetary penalty. These penalties remain part of Mashinsky’s record as court proceedings continue, according to Courtlistener.