Today U.S. District Judge Loretta Preska passed a ten month prison sentence on Nikhil Wahi in relation to the Coinbase insider trading case.
Wahi’s brother Ishan used to work for Coinbase. When Ishan Wahi became aware of cryptocurrency tokens that were about to be listed on Coinbase, he allegedly tipped off his brother Nikhil and a friend Sameer Ramani. The Department of Justice claimed they earned $1.5 million from the scheme across 25 different crypto tokens.
Nikhil Wahi, the one sentenced today, pled guilty and was additionally ordered to pay $892,500. The former Coinbase employee Ishan Wahi pled not guilty and Ramani is still at large and thought to be outside of the United States, leaving in April 2022.
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