Jury convicted former OpenSea head of product after NFT insider trading lawsuit.
Nathaniel Chastain was convicted Wednesday in an NFT insider trading case, according to Reuters. Jury deliberations began on Monday.
Verdict Out in NFT Insider Trading Case
Nathaniel Chastain, former head of product at NFT trading platform OpenSea, has been arrested as part of the insider trading case. Former head of products accused of insider trading. Jury deliberations began on Monday, and he was arrested after the deliberations.
Chastain was charged with electronic fraud and money laundering last June and pleaded not guilty by his lawyers. The former head of product appeared before the jury about pre-purchasing NFT collections that have yet to be released on OpenSea.
Former product head of OpenSea, one of the largest NFT platforms, was convicted after being accused of insider trading.
Previous efforts by Chastain’s legal team to dismiss the case or drop the electronic fraud charges were unsuccessful. The jury began deliberations on the case this Monday, and it took several days to announce the verdict, Reuters reported.
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