Alex Mashinsky, the former CEO of Celsius, has voluntarily waived any potential conflict of interest in his legal representation after a brief hearing in a New York courtroom. The hearing, known as a Curcio hearing, took place in the United States District Court for the Southern District of New York. During the hearing, Mashinsky agreed that there was no conflict with his lawyers Marc Mukasey and Torrey Young, who are also representing former FTX CEO Sam “SBF” Bankman-Fried in a separate criminal case. In response to Mashinsky’s claim that Celsius may be a victim of Alameda Research, Judge John George Koeltl cautioned that documents potentially conflicting with the two cases could not be used. Bankman-Fried’s sentencing hearing is scheduled for March 28, while Mashinsky’s criminal trial is set to begin on September 17.
Mashinsky, who had never been in a court before, expressed his lack of expertise in legal matters and emphasized that he was spending money to prove his innocence. He speculated that Bankman-Fried’s sentencing might be completed before his own trial, but acknowledged that the exact timeline was uncertain.
Both Mashinsky and Bankman-Fried faced concerns about potential conflicts of interest, prompting prosecutors to request Curcio hearings in February. The U.S. government alleged that Mashinsky had partly attributed Celsius’ collapse to Alameda Research, a sister firm of FTX, potentially implicating Bankman-Fried in the process.
With Mashinsky waiving any potential conflicts in his case, Bankman-Fried is scheduled to appear in court on February 21 for a similar Curcio hearing. Since being convicted of seven felony counts in November 2023, Bankman-Fried has largely remained out of the public eye. However, on February 19, photos of him in prison were released, offering a rare glimpse into his life behind bars.
Mashinsky stepped down as CEO of Celsius in September 2022. In July 2023, he was indicted on seven felony counts, including securities fraud, wire fraud, and conspiracy to commit fraud related to his activities at the platform. He is currently out on $40 million bail pending his trial.
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