Brother of Coinbase Ex-Management Imprisoned for 10 Months in Insider Trading Case

The brother of Coinbase (COIN) former product manager, Ishan Wahi, has been sentenced to 10 months in prison for making $1 million in wrongful gains by “insider trading”.

According to the news presented by Reuters, at the sentencing hearing in Manhattan federal court, Ishan Wahi’s brother Nikhil Wahi 10 months in prison decision is out. Nikhil Wahi at a hearing in September insider trading He accepted the charges, and as a result of that hearing, he was accepted by the prosecutors. A prison sentence of 10 to 16 monthsI was offered.

About the details of the event After 4 months of research offered as the lowest option 10 month sentence it was fixed.

US prosecutors First insider trading case on cryptocurrencies In this hearing, which he described as the siblings and with friends was shared. According to the details in the case file Nikhil Wahi and his friend Sameer Ramani, Ishan Wahi obtaining confidential information from Coinbase via 40 different Coinbase announcements by trading with inside information beforehand, $900,000 profit reportedly obtained.

federal prosecutor Damian Williams In a statement on the matter, he said, “Today’s penalty makes it clear that cryptocurrency markets are not lawless” he said.

Nikhil Wahi for his crime regret you heard expressed it in the following terms:

I wanted to help my family but instead I caused them great pain, I am very sorry for what I did.

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