A former Celsius executive agreed to hand over $1.07 million to the U.S. government prior to sentencing.

CoinFeed reported on May 14th that, according to Cointelegraph, Roni Cohen-Pavon, former chief revenue officer of the defunct cryptocurrency lending platform Celsius, will surrender over $1 million in assets under a forfeiture order from U.S. authorities ahead of his sentencing hearing. Jay Cohen, the U.S. Attorney for the Southern District of New York, stated that Cohen-Pavon has agreed to a $1.07 million sentence, representing funds traceable back to his criminal proceeds; any cash or cryptocurrency funds he held on the Celsius platform can be included in the paid-out amount if used as part of his bankruptcy settlement. In April, Cohen-Pavon's lawyers requested the court to base his sentence on the time he had already served, arguing that he cooperated with the government and may have played a role in Mashinsky's guilty plea.