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Former Celsius executive agrees to forfeit $1.07 million in criminal proceeds.

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Former Celsius CRO Roni Cohen-Pavon has agreed to forfeit $1.07 million in criminal proceeds. He pleaded guilty in September 2023 to fraud and price manipulation of the CEL token. Sentencing is scheduled for this Thursday. Prosecutors have noted his cooperation as a factor in sentencing. Assets already distributed in the Celsius bankruptcy may be credited toward the forfeiture. New token listings continue to attract regulatory scrutiny. Crypto price movements remain sensitive to legal actions against major projects.

According to Cointelegraph, Jay Clayton, U.S. Attorney for the Southern District of New York, stated that Roni Cohen-Pavon, former Chief Revenue Officer of Celsius, has agreed to a forfeiture judgment of $1.07 million, deemed related to his proceeds from criminal activity. Cohen-Pavon pleaded guilty in September 2023 to charges of fraud and conspiracy to manipulate the price of CEL tokens on the Celsius platform, with sentencing expected this Thursday. Prosecutors did not recommend a specific sentence but requested the court consider his “substantial assistance.” Documents indicate that any cash or crypto assets already paid by him in connection with the Celsius bankruptcy case may be credited toward the forfeiture amount.

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