- Former Celsius chief revenue officer has entered a guilty plea.
- The former executive is out on bond as he awaits trial.
- He agreed to cooperate with the prosecution on pending investigations.
Roni Cohen-Pavon, a former chief Revenue Officer at bankrupt crypto lender Celsius, has pleaded guilty to multiple criminal counts and has agreed to cooperate with the U.S. Attorney for the Southern District of New York on further investigations.
The Department of Justice (DOJ) charged Cohen-Pavon alongside former Celsius CEO Alex Mashinsky in July, accusing both of them of a yearslong scheme meant to delude customers about the value of the CEL token.
Guilty on Four Counts
According to a September 13 court filing, Cohen-Pavon pleaded guilty to conspiracy to manipulate the price of a security (CEL token), manipulation of a security price and volume, wire fraud, and securities fraud.
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Although the filing noted that the former executive would not be prosecuted for criminal tax violations, Cohen-Pavon agreed to make restitution in an amount to be specified by the court, as well as to forfeit any money, properties, or personal items derived from proceeds traceable to the commission of his crimes.
The former executive was released on a $500,000 bond, and he may travel between New York and Israel as he awaits sentencing on December 11.
Cooperation with the Prosecutors
As part of the guilty plea, Cohen-Pavon has agreed to “truthfully and completely” disclose any information the prosecution office might need to pursue and settle other Celsius cases. He also agreed to cooperate fully with any other law enforcement agency designated by the U.S. Attorney for the Southern District of New York, including the FBI.
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While the plea didn’t mention specific cases to which Cohen-Pavon would cooperate, the prosecution will most likely be interested in his testimony against Mashinsky, who pleaded not guilty to all the counts he was charged with.
“Moreover, any assistance the defendant may provide to the federal criminal investigators shall be pursuant to the specific instructions and controls of this office and designated investigators,” the plea read.
Read why the ex-Celsius CEO wants the FTC to dismiss his case:
Ex-Celsius CEO Mashinsky Seeks Bold FTC Case Dismissal
Stay updated on why the SEC filed a case against former Celsius CEO:
Celsius Founder SEC’s Latest Target: “Raised Billions From Fraud.”
