BlocksInform
In a new update of mango trading saga, The US District Court for the District of Puerto Rico issued a detention order at the infamous Avraham eisenberg mango market.
After holding a detention hearing, United States Magistrate Judge Bruce McGiverin decided that it was necessary to detain Eisenberg for several reasons. According to court documents, there are no conditions or combinations of release conditions for eisenberg that will reasonably ensure his appearance if necessary.
As well, the Court provided additional reasons. This includes the fact that eisenberg is punishable by a long period of imprisonment if found guilty, has significant family or other relationships outside the U.S. and has unverified experience.
An order to detain is a court order that may be issued at a bail hearing. If a judge decides to make a detention order, the defendant remains detained until the end of the case or is released on bail.
On Dec. 28, Eisenberg was arrested on fraud charges despite describing his attack on the crypto exchange as a legal open market action. The mango trader was arrested in Puerto Rico on charges of manipulation and fraud.
Related: $100M drained from Solana DeFi platform Mango Markets, token plunges 52%
On Oct. 15, Eisenberg posted a thread on social media claiming that the Mango Markets exploit was a legal act. He said he was using the protocol as designed, and the law was simply a "very cost-effective business strategy."
