Lawyers representing the $116 million Mango Markets exploiter have satisfied a choose to postpone the fraud trial till April 8, 2023.
Avraham Eisenberg’s fraud trial was set to begin on Dec. 4, however a number of circumstances impacted his trial preparations, in accordance to his legal professionals, who filed a profitable movement for a continuance to district courtroom Judge Arun Subramanian on Nov. 2.
“As discussed in today’s conference, the motion for continuance is GRANTED. Trial in this case will begin on April 8, 2024,” Subramanian stated in a Nov. 3 courtroom submitting.
United States prosecutors contested the movement for continuance however have been unsuccessful. Subramanian additionally ordered United States prosecutors and Eisenberg’s legal professionals to submit a revised schedule for pretrial motions and submissions by Nov. 7.
Despite confessing his involvement within the Mango Markets exploit, Eisenberg pleaded not guilty to three felony counts for commodities fraud, commodity manipulation and wire fraud in June.
In the movement, Eisenberg’s attorneys mentioned they wanted extra time to sift via discovery supplies submitted by U.S. prosecutors.
“The government has produced voluminous discovery in this case on a rolling basis […] which the defense is still analyzing and conferring with the client about.”
The legal professionals added that they misplaced time to put together with Eisenberg when he was “unexpectedly” transferred to the Metropolitan Detention Center (MDC) in Brooklyn on Oct. 26.
Eisenberg wasn’t permitted to switch the invention supplies, which he annotated together with different authorized paperwork related to the trial.
“The move to the MDC has already, and will continue to, severely inhibit defense counsel’s access to Mr. Eisenberg,” the legal professionals added.
MCD is the jail that former FTX CEO Sam Bankman-Fried returned to after he was convicted on all seven fraud-related charges on Nov. 2.
Related: How low liquidity led to Mango Markets losing over $116 million
The Securities and Exchange Commission additionally charged Eisenberg on Jan. 20, alleging that he manipulated the Mango Markets governance token, MNGO, by taking out “massive loans” towards its inflated collateral and draining Mango’s treasury of round $116 million.
Mango Markets is now additionally suing Avraham Eisenberg, in search of the return of the remaining $47 million he stole.https://t.co/7pDoHuigH4 https://t.co/H48nPPl13h
— web3 goes simply nice (@web3isgreat) January 26, 2023
It adopted Eisenberg’s arrest in Puerto Rico about three weeks earlier on Dec. 27.
Eisenberg publicly confessed to the exploit on Oct. 15, 2022, arguing that his actions were completely legal. He initially despatched again $67 million to Mango Markets’ decentralized autonomous group as half of a bounty deal. However, the workforce behind Mango Markets later sued Eisenberg for $47 million in damages plus curiosity.
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