US District Judge John Koeltl has given US Department of Justice lawyers more time to deliver discovery materials to Alex Mashinsky's defense team, former Celsius CEO.
Due to the extensive discovery and the difficulty of the case, the court decides not to include the time between July 25 and October 3 in the Speedy Trial Act calculations. Koeltl thinks that requesting a stay rather than a swift trial advances the interests of justice more effectively.
The defense requires prosecutors to provide any favorable information relevant to Mashinsky's case. On October 3, a conference is planned, one day following the former FTX CEO Sam Bankman-Fried's trial.
Celsius declared bankruptcy in July 2022, and Mashinsky left his position as CEO in September. He was taken into custody in July of this year and accused of wire fraud, commodities fraud, and securities fraud, all including consumer fraud. Mashinsky, who entered a not-guilty plea, was granted bail in the amount of $40 million.
The Federal Trade Commission, which fined Celsius $4.7 billion in July, the Securities and Exchange Commission, and other agencies have also filed civil lawsuits against Celsius in addition to complaints. There has been no scheduled date for a trial.
