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Alex Mashinsky faces electronic monitoring while on bail, judge signs off on protective order

Published 08/10/2023, 12:04 PM
Updated 08/10/2023, 01:40 PM
FRCB
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A federal judge has approved a joint request from lawyers for Alex Mashinsky and the United States Department of Justice modifying the former Celsius CEO’s bail conditions to include electronic monitoring.

In an Aug. 8 filing in U.S. District Court for the Southern District of New York, Judge Gabriel Gorenstein signed off on a modification to Mashinsky’s $40-million bond ensured by his brokerage account at First Republic Bank (OTC:FRCB) and his New York home. Prosecutors and defense lawyers jointly signed a request to have Mashinsky under electronic monitoring and be restricted from withdrawing, transferring or receiving more than $10,000 without prior approval from the court. The bail modification would remove the need to use Mashinsky’s First Republic account to ensure the bond.

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