Sure, here is the cleaned version of the HTML code with only the `
` and its contents:“`
The Case Against Mashinsky
Prosecutors are holding firm in their stance that the charges reflect Mashinsky’s alleged attempts to deceive investors regarding the profitability and business operations of Celsius, as well as purportedly manipulating the market for the platform’s CEL token. These accusations come after Celsius’s bankruptcy filing in July 2022, subsequent to which Mashinsky resigned in September.
Mashinsky’s Legal Challenge
On January 12, Alex Mashinsky filed a motion to dismiss the criminal charges, arguing that the concurrent allegations of securities and commodities fraud were contradictory and without legal precedent. He highlighted the lack of clear guidance on whether cryptocurrencies are categorized as commodities or securities and criticized the market manipulation charge for not providing ‘fair notice’ about the legality of the actions he is accused of.
Prosecutors’ Rebuttal
The legal team representing the U.S. government has rejected Mashinsky’s claims of ambiguity in the law, stating that the statutes he is charged under clearly prohibit the deceptive practices he is accused of. Moreover, they argue that the references to Celsius’s bankruptcy in the indictment are relevant, as they illustrate the consequences of the alleged fraudulent conduct.
Advancement of AG’s Celsius Case
Adding to Mashinsky’s legal woes, a civil lawsuit filed by New York Attorney General Letitia James will proceed. This suit, which predates the federal charges, accuses Mashinsky of misleading investors about the security and risks of their investments. The Manhattan state court justice found sufficient allegations to suggest that Mashinsky’s statements could have misled Celsius investors, potentially tying him to the losses they incurred.
Conclusion
As the case unfolds, prosecutors are adamantly urging the court to deny Mashinsky’s motions to dismiss. They believe there is ample evidence and legal precedent to take the case against the former CEO to trial, potentially setting a significant precedent for the crypto industry.
For more details on this case and other crypto-related news, stay tuned to AI Crypto Pulse.
“`
English