Celsius Founder Mashinsky Files Motion to Vacate 12-Year Fraud Sentence

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Celsius founder and former CEO Alex Mashinsky recently filed a handwritten motion in the U.S. District Court for the Southern District of New York seeking to vacate his 12-year prison sentence for commodities and securities fraud. Mashinsky cited ineffective counsel and alleged conflicts of interest within his legal firm, Mukasey & Young LLP, as grounds for vacating the conviction. The motion specifically alleges that the law firm's engagement with FTX founder Sam Bankman-Fried created an undisclosed conflict since SBF allegedly engaged in market manipulation of Celsius' CEL token, contributing to the platform's collapse. Last month, Mashinsky was formally banned from the cryptocurrency industry following a $10 million settlement with the FTC.
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