Ex-Celsius Revenue Chief Roni Cohen-Pavon Gets Time Served
Roni Cohen-Pavon, former Celsius chief revenue officer, was sentenced to time served and one year supervised release after pleading guilty to manipulating the CEL token and platform fraud.
A federal judge in Manhattan on Wednesday sentenced Roni Cohen-Pavon to time served and one year of supervised release after the former Celsius chief revenue officer pleaded guilty to charges that he manipulated the CEL token and committed fraud on the platform. U.S. District Judge John Koeltl issued the sentence in the Southern District of New York.
Cohen-Pavon was arrested in September 2023 and initially pleaded not guilty before changing his plea to guilty about a week later. At sentencing, the court ordered no additional jail time beyond the period he had already spent in custody while the case was pending.
He was indicted in July 2023 alongside former Celsius CEO Alex Mashinsky following the company’s 2022 collapse, which left users and investors with billions in losses. Prosecutors allege Cohen-Pavon took part in schemes that artificially boosted the CEL token and misled platform users.
An Israeli citizen, Cohen-Pavon was outside the United States when the indictment was filed and later returned to face charges. He posted a $500,000 bond in September 2023 and has been permitted travel with court-imposed restrictions.
Under his plea agreement, Cohen-Pavon agreed to repay more than $1 million and was fined $40,000. At sentencing, the judge accepted the plea agreement and declined to impose further prison time.
Alex Mashinsky was convicted in the same federal case and is serving a 12-year prison term; he was ordered to forfeit $48 million in the criminal proceeding.
In a letter submitted to the court before sentencing, Cohen-Pavon wrote, ‘Whatever sentence the Court imposes, the deeper obligation will remain the same. I will have to spend the rest of my life becoming, through my conduct, the husband, father, and man my family had every right to expect from me all along.’
Federal prosecutors pursued multiple criminal and civil actions after Celsius’s collapse; the criminal cases tied to the company have produced guilty pleas and sentences in recent months.
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