United States (US) prosecutors sued the Coinbase official on charges of insider trading.
The lawsuit has been described as the first “trading lawsuit” in crypto industry history. Ishan Wahi, a former executive at Coinbase Global Inc., clarified the case in which US prosecutors engaged in insider trading in cryptocurrencies. In this trade accusation, Wahi was found guilty of creating two schemes to commit phone scams.
Trade Accusation To Coinbase Official!
A hearing was held on 7 February. At that hearing, Ishan Wahi said in Manhattan federal court, “I knew SameerRaman and NikhilWahi would use this information to make trade decisions.” made the statement. “For Coinbase, it was the wrong move to spread property abusively.” he added to his sentences.
As a result of the confession agreement, Ishan Wahi agreed to be sentenced to between 36 and 47 months in prison. The hearing to determine the sentence is scheduled for May 10. Coinbase has reportedly forwarded the findings from the trade-related investigation to prosecutors.
Ishan Wahi’s brother, Nikhil, was reportedly sentenced to 10 months in prison on charges of phone fraud. Nikhil Wahi was declared guilty of trading on the basis of confidential information he had obtained with the support of his brother. Ramani, who was included in the investigation, has still not been found.
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