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

According to a motion filed with the District Court for the Southern District of New York, Celsius founder Alex Mashinsky is seeking to vacate his 12-year prison sentence. Mashinsky cited ineffective counsel and conflicts of interest as grounds for the motion, noting that his legal firm's engagement with FTX founder Sam Bankman-Fried created an undisclosed conflict that compromised his legal representation. Last month, Mashinsky was formally banned from the cryptocurrency industry following a $10 million settlement with the FTC.
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