Avraham “Avi” Eisenberg has submitted a motion for judgment of acquittal in the case against him for offenses associated with the Mango Markets exploit.
Eisenberg’s memorandum of law challenges the validity of the jury’s verdicts and requests that the court annul the verdict and grant him his freedom. Requesting a new trial if the previous one is unsuccessful is necessary.
About the Case
Eisenberg’s conviction for commodities fraud, commodities manipulation, and wire fraud occurred in April. Eisenberg’s defense contended that he had not committed any crimes but implemented a “successful and legal trading strategy” during his two-week trial.
Due to that trading strategy, Eisenberg acquired approximately $100 million in cryptocurrency on the decentralized finance platform Mango Markets on October 11, 2022.
Eisenberg disclosed his identity as the exploiter in a post thread on X on October 15, 2022. Additionally, Eisenberg returned approximately $67 million to Mango Markets. His detention occurred in Puerto Rico on December 26, 2022.
Eisenberg asserts in his August 5 filing that the prosecution was “affected by a series of fundamental flaws, both legal and evidentiary.” There are five “flaws” in the government’s case, as detailed in the document.
The 77-page filing contains a closing argument that addresses three deficiencies in the counts against Eisenberg. Furthermore, it contests the venue of the conviction, the Southern District of New York District Court, because “not a single act performed in connection with the crimes of conviction took place in this District.”
Lastly, the filing refutes the allegation of wire fraud. According to it,
“Because it never proved the location of any act in furtherance of his trades, including the location of any server, the government failed to prove that Mr. Eisenberg used an interstate wire, requiring dismissal of the wire fraud charge.”
Eisenberg’s sentencing was to occur on July 29, but it has not transpired. Eisenberg is at risk of serving a maximum of 20 years in prison for the offenses for which he has been guilty.
