Judge Reverses Fraud Convictions in Mango Markets Case

A US federal judge has overturned significant fraud and manipulation convictions against Avraham Eisenberg, the trader involved in the $110 million exploitation of the decentralized exchange Mango Markets.

On Friday, US District Judge Arun Subramanian determined that the evidence provided during the trial did not substantiate the jury’s decision that Eisenberg had made materially false claims to Mango Markets.

This ruling nullifies Eisenberg’s convictions for commodities fraud and market manipulation, as well as acquitting him of a third charge, which considerably diminishes the government’s case.