Alex Mashinsky, the former founder and CEO of the failed crypto lender Celsius, files a motion seeking to vacate his 12-year prison sentence. Multiple outlets report that he submits the request after his legal team withdraws from the case. Mashinsky’s filing argues that there is a legal issue affecting his conviction and sentence, and the motion points to complications involving Sam Bankman-Fried, who is closely associated with the collapse of crypto exchange FTX.
The motion also references related disputes connected to Celsius and other executives. One report says the sentence included claims that involved FTX and allegations of a “hostile takeover” by a former Celsius executive. That executive is reported as having been sentenced to time served.
The reports agree on the core development: Mashinsky asks the court to undo or vacate the prison term of 12 years. They also indicate that the procedural posture changes, with lawyers withdrawing, as part of why the motion is filed. The sources do not provide a court decision or timing for any ruling in response.
