US Seeks $1M Forfeiture from Ex-Celsius Exec Roni Cohen-Pavon

The U.S. government is seeking a $1.07 million forfeiture from Roni Cohen-Pavon, the former chief revenue officer of Celsius Network, as part of his criminal case ahead of sentencing. Cohen-Pavon pleaded guilty to fraud and market manipulation related to Celsius's CEL token in September 2023 and is scheduled for sentencing this Thursday in the Southern District of New York.

Federal prosecutors outlined the forfeiture request in a court filing, stating the amount represents proceeds traceable to Cohen-Pavon’s criminal activities. They also noted he could receive credit for any funds he holds on Celsius’s platform as part of its ongoing bankruptcy case. Cohen-Pavon’s cooperation with authorities could play a role in determining his sentence, as prosecutors have asked the judge to consider guidelines for a potential sentencing reduction due to his assistance.

Cohen-Pavon has openly acknowledged his role in manipulating the CEL token. In a letter to Judge John Koeltl, he stated, “I pleaded guilty because I am guilty. I participated in the manipulation of the CEL token. I did not stop it when I should have, and I did not leave when I could have. I take full responsibility for that.” His legal team has requested a sentence of time served, citing his cooperation and its connection to the guilty plea of Celsius founder Alex Mashinsky.

The downfall of Celsius in 2022 was one of the major collapses in the crypto sector, following the Terra ecosystem implosion. Celsius’s bankruptcy, along with high-profile cases like FTX, marked a turbulent year for the industry. Mashinsky, Celsius’s former CEO, was sentenced to 12 years in prison in 2025 after admitting to securities and commodities fraud. He also agreed to a $48 million forfeiture as part of his plea deal.

This case underscores the increasing accountability being enforced in the crypto space as regulators and courts crack down on fraudulent activity. Cohen-Pavon’s sentencing this week will add another chapter to the Celsius saga, with implications for both the individuals involved and the broader crypto sector’s regulatory landscape.