Judge gives US prosecutors until October 3 for discovery in case against Alex Mashinsky

United States District Judge John Koeltl has granted an extension for the start date of the trial of former Celsius CEO Alex Mashinsky, citing "volume of discovery" and "complexity of the case".

U.S. Department of Justice lawyers have more time to make discoveries and give the defense team for former Celsius CEO Alex Mashinsky time to review related documents.

In a July 25 order, U.S. District Judge John Koeltl said he would exclude the period between July 25 and October 3 from calculations of the Speedy Trial Act, the law that requires a federal criminal trial to begin within 70 days of the filing of an indictment. He cited the "volume of findings" as well as the "complexity of the case" against the former CEO of Celsius.

“The Court considers that the ends of justice served by granting the extension outweigh the best interests of the accused and the public in a speedy trial,” Koeltl said.

The law requires prosecutors to substantially disclose to Mashinsky's legal team any "defendant-friendly" information that is "material to a conviction or punishment." The October 3 conference will place Mashinsky in a New York courtroom just a day after the start of the trial against former FTX CEO Sam Bankman-Fried, who was indicted in the same district.

Related: What the Criminal Charges Against Former Celsius CEO Mean for the Crypto Industry

Celsius filed for Chapter 11 bankruptcy in July 2022, weeks after the platform announced it would suspend all withdrawals without providing a definitive timeline for their return. Mashinsky stepped down as CEO in September 2022.

U.S. Authorities charged and arrested Mashinsky on July 13 with securities fraud, commodity fraud, and wire fraud related to allegedly defrauded and misled customers about certain information about Celsius...