Avraham “Avi” Eisenberg has filed a movement for judgment of acquittal within the case towards him for felonies associated to the Mango Markets exploit. Eisenberg was discovered responsible of these costs in April.
The memorandum of regulation filed by Eisenberg casts doubt on the soundness of the jury’s choices in that case and asks the court docket to put aside the decision and let him go free. Failing that, a brand new trial is requested.
Mango Markets: Fraud or skillful buying and selling?
In April, Eisenberg was convicted of commodities fraud, commodities manipulation and wire fraud. Throughout his two-week trial, Eisenberg’s protection argued that he had not dedicated any crimes however had relatively applied a “profitable and authorized buying and selling technique.”
Via that buying and selling technique, Eisenberg obtained about $100 million in cryptocurrency on the decentralized finance platform Mango Markets on Oct. 11, 2022. Eisenberg revealed himself to be the exploiter on Oct. 15, 2022, in a put up thread on X. Eisenberg additionally returned about $67 million to Mango Markets. He was arrested in Puerto Rico on Dec. 26, 2022.
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In his Aug. 5 submitting, Eisenberg states that the prosecution “suffered from a sequence of basic flaws, each authorized and evidentiary.” The doc lists 5 “flaws” within the authorities’s case.
Making an attempt to get the case thrown out
Three flaws within the counts towards Eisenberg are addressed in a closing argument within the 77-page submitting. As well as, it disputes the venue of the conviction — the Southern District of New York District Courtroom — as “not a single act carried out in reference to the crimes of conviction came about on this District.”
Lastly, the submitting disputes the cost of wire fraud. It states:
“As a result of it by no means proved the placement of any act in furtherance of his trades, together with the placement of any server, the federal government did not show that Mr. Eisenberg used an interstate wire, requiring dismissal of the wire fraud cost.”
Eisenberg’s sentencing was scheduled for July 29, nevertheless it doesn’t seem that it came about. Eisenberg faces as much as 20 years in jail for the crimes he has been convicted of.
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