Mashinsky Challenges 12-Year Fraud Sentence Amid SBF Accusations

- Ex-Celsius CEO Alex Mashinsky files motion to vacate 12-year sentence, alleging ineffective counsel and prosecutorial misconduct - Mashinsky accuses Sam Bankman-Fried of manipulating CEL tokens and attempting a hostile takeover of Celsius 2026-05-30 On May 30, 2026, CoinDesk reported that Alex Mashinsky, former CEO of Celsius, filed a pro se motion in the U.S. District Court for the Southern District of New York seeking to overturn his 12-year sentence for fraud and market manipulation. In the motion, he claims that ineffective legal counsel and prosecutorial misconduct influenced his conviction, and he further alleges that former FTX CEO Sam Bankman-Fried manipulated CEL tokens and attempted to orchestrate a hostile takeover of Celsius. Mashinsky submitted the motion on May 28, 2026, after his previous legal team withdrew, and he is asking the court to vacate prior judgments. These include a $48 million criminal forfeiture and a $10 million settlement with the U.S. Federal Trade Commission, which is part of a largely suspended $4.72 billion judgment. Meanwhile, court records show that Roni Cohen-Pavon, Celsius’s former chief revenue officer, received a sentence of time served after pleading guilty to related charges and cooperating with prosecutors, and Cohen-Pavon provided testimony against Mashinsky as part of that cooperation. Mashinsky’s new claims and his motion to vacate are detailed in the official court filing made available on Courtlistener on May 28, 2026.