A former executive at bankrupt crypto exchange Celsius Networks has pleaded guilty to four criminal charges.
36-year old Roni Cohen-Pavon is facing a combined maximum term of imprisonment of 65 years over charges relating to market manipulation of a security in the CEL token and wire fraud.
Cohen-Pavon’s sentencing date is set for December 11, 2024 before the U.S. District Judge John Koeltl in Manhattan. He will continue to be on bail until that time.
The U.S. Attorney’s Office has also reached an agreement with Cohen-Pavon for his cooperation in the case against Alex Mashinsky, the founder of Celsius Networks.
Cohen-Pavon served as the chief revenue officer at Celsius and reportedly received about $3.6 million in payments from the firm. He was arrested on July 13 as the co-accused in the case between the U.S. SEC, CFTC and FTC against Alex Mahinsky on charges related to market manipulation, securities fraud and wire fraud.