![]() Prosecutors had called for Ishan Wahi to spend more than three years in prison to deter other cryptocurrency insiders from misusing corporate information. Wahi had asked in court papers for a sentence no longer than his brother's, citing other insider trading cases that resulted in little or no prison time. Attorney Noah Solowiejczyk said during the hearing that Wahi's conduct was "not a one-off mistake" but a stream of tips over 10 months. "I made a huge mistake that will follow me for the rest of my life," Wahi said.Īssistant U.S. Ramani remains at large.Īt Tuesday's hearing, Ishan Wahi expressed remorse for his actions and their effect on his friends and family, several of whom were in court. Nikhil Wahi pleaded guilty in September to a wire fraud conspiracy charge, and in January was sentenced to 10 months in prison. The tipoff allowed the three men to make $1.5 million by trading 55 digital assets ahead of the listing announcements between June 2021 and April 2022, according to prosecutors. Prosecutors have said Wahi shared confidential information with his brother Nikhil and their friend Sameer Ramani about which digital assets would be listed on Coinbase, one of the world's largest cryptocurrency exchanges. ![]() prosecutors in New York, including one against FTX founder Sam Bankman-Fried, who has pleaded not guilty. It is one of several high-profile cryptocurrency-related cases brought by U.S. ![]() The scheme involved a "massive abuse" of Coinbase's trust, Preska said during the sentencing hearing, adding that attempts to cover it up showed that Wahi and his co-defendents knew their actions were wrong. District Judge Loretta Preska sentenced Ishan Wahi, 32, in Manhattan federal court after the defendant pleaded guilty in February to two counts of conspiracy to commit wire fraud. prosecutors have called the first insider trading case involving cryptocurrency. NEW YORK, May 9 (Reuters) - Ishan Wahi, a former Coinbase Global Inc (COIN.O) product manager, was sentenced on Tuesday to two years in prison in what U.S.
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