Key takeaways :
- Avraham Eisenberg’s Trial Delayed in $116 Million Mango Markets Exploit Case
- Eisenberg previously confessed to his involvement in the Mango Markets exploit
The trial of Avraham Eisenberg, who is linked to the $116 million Mango Markets exploit, has been rescheduled to April 8, 2024, due to challenges related to trial preparations. It’s worth noting that Eisenberg had previously acknowledged his involvement but pleaded not guilty to the criminal charges against him.
The need for additional time to review discovery materials and the unexpected transfer of Eisenberg to the Metropolitan Detention Center were cited as reasons for the trial delay. Additionally, the Securities and Exchange Commission (SEC) filed a case against Avraham Eisenberg on January 10.
Eisenberg had previously confessed to his involvement in the Mango Markets exploit but pled not guilty to criminal counts, including commodities fraud, commodity manipulation, and wire fraud.
In addition to the criminal charges, the Securities and Exchange Commission (SEC) charged Eisenberg with manipulating Mango Markets’ governance token, MNGO, and draining the platform’s treasury of $116 million.
The trial for Avraham Eisenberg, included in the $116 million Mango Markets exploit, has been postponed to April 8, 2024, citing trial preparation issues. Despite admitting involvement, he pleaded not liable to criminal charges.
Lawyers required more time to analyse discovery materials, and Eisenberg’s unexpected transfer to the Metropolitan Detention Center hindered preparations. Similarly, the SEC also filed a case on Avraham Eisenberg on 10 January.
Eisenberg’s trial, which is taking place in the Southern District of New York where Sam Bankman-Fried, the founder and former CEO of FTX, was convicted of seven charges in a jet trial that lasted less than a year, where more than $8 billion of FTX customers’ funds went missing and he was accused of covering it up.
Eisenberg’s trial schedule was progressing at a similar pace until the end of October when the Bureau of Prisons transferred him from the New Jersey federal prison to the more restrictive Metropolitan Detention Center in Brooklyn, hindering defense lawyers’ efforts to prepare for the December 8th hearing.
The trial is taking place in the Southern District of New York, where a group of lawyers successfully secured the conviction of Sam Bankman-Fried in a case that was resolved in less than a year.
Eisenberg’s trial was also progressing quickly until late October. At that time, the Bureau of Prisons transferred him from a federal jail in New Jersey to the Metropolitan Detention Center in Brooklyn, hindering defense lawyers from preparing for his trial scheduled for December 8, as mentioned in a legal filing.