Wedding Travel Approved Amidst Sentencing Uncertainty
Former Celsius CEO Alex Mashinsky, facing potential prison time for his role in the cryptocurrency platform’s collapse, has been granted permission to travel to his daughter’s wedding. The decision was made by Judge John Koeltl of the US District Court for the Southern District of New York, who will ultimately determine Mashinsky’s fate at a sentencing hearing on May 8.
In a May 8 filing, Judge Koeltl approved Mashinsky’s request to travel from New York to Memphis, Tennessee, between May 26 and May 29 for the wedding. While initially available on the public docket, the approval later appeared to have been removed. The reason for this removal is unknown, adding a layer of intrigue to the situation.
Potential Prison Time Looms
The upcoming hearing holds significant weight for Mashinsky. He faces a potential sentence of up to 20 years in prison, a request made by prosecutors who argue that his actions warrant a severe punishment. Mashinsky’s legal team, on the other hand, has requested a far lighter sentence of one year and one day.
The outcome of this case could have a significant impact on how future cryptocurrency-related criminal cases are handled, especially under the Trump administration, which appointed the interim US Attorney for the Southern District of New York.
A Precedent in the Making?
The situation draws parallels to the case of Sam Bankman-Fried, former CEO of FTX, who was recently sentenced to 25 years in prison for his role in the cryptocurrency exchange’s collapse. This case, which took place in the same court district, could serve as a precedent for how the justice system views cryptocurrency-related fraud.
Mashinsky, who has been free on a $40-million bond since July 2023, has faced restrictions on travel, requiring court approval for journeys outside certain areas. While it’s unclear whether he’ll be expected to surrender to authorities following the May 8 hearing, the uncertainty surrounding his sentence adds a layer of complexity to the situation.
This story is developing, and updates will be provided as they become available.
