Roni Cohen-Pavon, the former chief revenue officer of defunct cryptocurrency lending platform Celsius, has been sentenced by a US federal judge to time served after almost three years in custody. This decision comes as part of a guilty plea to charges related to manipulating the price of Celsius's CEL token and fraud on the platform.
Cohen-Pavon was initially indicted along with former CEO Alex Mashinsky in July 2023, following the collapse of Celsius which led to billions of dollars' worth of investor and user losses. The sentencing memorandum for Cohen-Pavon highlights his cooperation with prosecutors, stating that he has 'become, through my conduct, the husband, father, and man my family had every right to expect from me all along.'
As part of his sentence, Cohen-Pavon will serve one year of supervised release. This decision comes as prosecutors continue to seek justice for those affected by the collapse of Celsius.