Judge Loretta Presca of the US District Court for the Southern District of New York has sentenced Ishan Wahi, former product manager of bitcoin exchange Coinbase, to two years in prison. This is reported Reuters.
In February, he pleaded guilty to two counts of insider trading. Wahi faced up to 40 years in prison. Prosecutors asked for three years.
“I made a huge mistake that will accompany me for the rest of my life,” he said in court.
Since October 2020, Ishan Wahi has been working on the listing at Coinbase. From June 2021 to April 2022, he violated the platform’s privacy rules and provided insider information to his brother Nikhil Wahi and his partner Sameer Ramani.
Recall that in July 2022, law enforcement officers arrested all three. They were accused of conspiring to defraud a crypto-assets insider trading scheme, resulting in profits totaling at least $1.5 million.
In September, Nikhil Wahi pleaded guilty. He agreed with the version of the investigation, according to which he made transactions based on non-public information about the listing of digital assets planned on Coinbase. In January 2023, Nikhil Wahi was sentenced to 10 months in prison.
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Judge Loretta Presca of the US District Court for the Southern District of New York has sentenced Ishan Wahi, former product manager of bitcoin exchange Coinbase, to two years in prison. This is reported Reuters.
In February, he pleaded guilty to two counts of insider trading. Wahi faced up to 40 years in prison. Prosecutors asked for three years.
“I made a huge mistake that will accompany me for the rest of my life,” he said in court.
Since October 2020, Ishan Wahi has been working on the listing at Coinbase. From June 2021 to April 2022, he violated the platform’s privacy rules and provided insider information to his brother Nikhil Wahi and his partner Sameer Ramani.
Recall that in July 2022, law enforcement officers arrested all three. They were accused of conspiring to defraud a crypto-assets insider trading scheme, resulting in profits totaling at least $1.5 million.
In September, Nikhil Wahi pleaded guilty. He agreed with the version of the investigation, according to which he made transactions based on non-public information about the listing of digital assets planned on Coinbase. In January 2023, Nikhil Wahi was sentenced to 10 months in prison.
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Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!