Mango Markets developer asks judge to drop fraud and commodities-related charges

In a 77-page motion filed earlier this week, Mango Markets developer Avraham 'Avi' Eisenberg asked a judge to dismiss the fraud and commodities-related charges and request a new trial. His lawyers argued that the Southern District of New York was not the proper venue for the trial and said the government failed to prove that Eisenberg intended to manipulate the price of perpetual futures contracts on the decentralised cryptocurrency exchange Mango Markets. Eisenberg's attorneys said the government failed to prove that the Commodity Exchange Act applied to the case, and therefore the commodities conviction should be vacated. Prosecutors did not prove that the MNGO Perpetual was a swap, not a "pure security". The lawyers said, "The evidence at trial showed that the price was completely unrelated to Eisenberg, as he never attempted to sell any of the contracts, but rather used his ability to withdraw and borrow against open positions to make a profit." According to court documents, the judgement will take place on 13 November.