Ex-Celsius Executive Sentenced After Fraud Charges
- Roni Cohen-Pavon, former chief revenue officer of Celsius, received a sentence of time served and one year of supervised release.
- He was arrested in September after being indicted on fraud and conspiracy charges related to manipulating the price of Celsius’s CEL token.
- Cohen-Pavon initially pleaded not guilty but changed his plea to guilty shortly after his arrest.
- The sentencing follows the collapse of Celsius in 2022, which resulted in billions lost by investors.
- Cohen-Pavon agreed to pay over $1 million and a $40,000 fine as part of his sentencing.
This case marks a significant step in the legal proceedings against key figures from Celsius following its dramatic collapse, with former CEO Alex Mashinsky already serving a twelve-year sentence and ordered to forfeit $48 million.
With Cohen-Pavon’s sentence concluded, the criminal cases surrounding Celsius are nearing resolution, highlighting the ongoing consequences for executives involved in fraudulent activities.(Source)
