The United States District Court for the District of Puerto Rico has issued an order of detention for the renowned Mango Markets exploiter Avraham Eisenberg. This latest turn of events is an essential component of the continuing drama that is taking place in and around the Mango Markets.
After a hearing on Eisenberg’s custody, United States Magistrate Judge Bruce McGiverin came to the judgment that it was necessary to continue holding Eisenberg for a variety of reasons.
As stated in the documentation that was submitted to the court, Eisenberg’s release does not include any limits or combinations of conditions that would adequately assure he will appear in court when he is required to do so.
This includes the possibilities that Eisenberg will have to serve a lengthy period in jail if he is found guilty, that he has significant family or other contacts outside of the United States, and that his past has not been authenticated.
It is possible for the court to decide to issue a detention order rather than releasing the defendant on bond while they are considering the bail motion.
If the court decides to issue a detention order, the defendant will remain in jail either until the conclusion of the case or until the judge decides to release them after performing a bail review.
Eisenberg claimed that his attack on the Bitcoin exchange was a legitimate part of the free market; nonetheless, on December 28 he was arrested and charged with fraud, despite the fact that he had claimed that his actions were legal.
The individual who was responsible for abusing Mango Markets was captured in Puerto Rico and charged with market manipulation as well as fraud.
On October 15, Eisenberg posted a post on social media in which he argued that exploiting Mango Markets was a legal course of action. The post was shared by a number of users.
According to him, he was following the procedure precisely as it had been designed, and the act itself was only a trading method that had a very high possibility for making a profit.