Cryptocurrency

Former Coinbase manager’s brother jailed for insider trading

Hull Invest

The brother of former Coinbase manager Nikhil Wahi was sentenced to 10 months in prison on Jan. 10 for trading based on confidential Coinbase information obtained from his brother, according to Reuters. I was.

Nikhil Wahi is the brother of Ishan Wahi, former product manager at Coinbase. Prosecutors alleged that Ishan Wahi tipped his brother and his friend Sameer Ramani. Nikhil Wahi and Ramani allegedly used anonymous Ethereum (ETH) wallets to Made Over $1 million in transactions between July 2021 and May 2022.

The brothers were arrested in July 2022. His Nikhil Wahi, 26, pleaded guilty to wire fraud charges in his September, while Ishan Wahi pleaded not guilty. Ramani, who was also included in the arrest warrant, was outside US borders at the time and has yet to appear in the case.

Prosecutors sentenced Nikhil Wahi to at least 10 months and up to 16 months in prison. His defense attorneys argued that Wahhi’s primary motive for his actions was to repay his parents, who funded his college education, and that he had never been arrested before. Well, I managed to solve it in 10 months.

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