'I knew that Sameer Ramani and Nikhil Wahi would use that information to make trading decisions.' Ishan Wahi admitted during Tuesday's hearing in a Manhattan federal court.
by Reuters, the prosecutors claimed that Wahi disclosed private information to his brother Nikhil and friend Sameer Ramani, regarding imminent announcements of new digital assets that Coinbase would enable users to trade. The announcement later caused assets to rise in value, allowing Nikhil and Sameer Raman to generate illicit gains of at least $1.5 million.
"I knew that Sameer Ramani and Nikhil Wahi would use that information to make trading decisions," Ishan Wahi admitted during Tuesday's hearing in a Manhattan federal court."It was wrong to misappropriate and disseminate Coinbase's property," he added. As part of his plea deal, Ishan Wahi has agreed to be sentenced to between 36 and 47 months in prison. His sentencing hearing is scheduled for May 10. His brother Nikhil Wahi has already pleaded guilty and was sentenced to 10 months in prison, while Ramani remains at large. Coinbase reportedly shared its findings from an internal probe into the trading with the prosecutors.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Ex-Coinbase Product Manager Pleads Guilty to Insider TradingThe first insider trading conviction just happened in crypto markets, with Ishan Wahi, Coinbase's former product manager, pleading guilty
Leer más »
Former Coinbase manager seeks to dismiss watershed insider trading caseLawyers representing a former Coinbase manager and his brother moved to dismiss a Securities and Exchange Commission's insider trading case against them.
Leer más »
Former Coinbase manager slams SEC in motion to dismiss insider trading caseTen attorneys from five law firms signed a motion to dismiss an insider trading case brought forward by the SEC against two brothers saying the regulator is “wrong” and has no government authorization.
Leer más »
Former Coinbase Manager Pleads Guilty to Insider Trading Charges: ReutersA former Coinbase manager arrested on insider trading charges has changed his 'not guilty' plea to 'guilty' during a Tuesday hearing. iamsandali reports
Leer más »
Former Coinbase Exec Pleads Guilty to Insider Trading: ReportThe former Coinbase employee has changed his stance after initially pleading not guilty.
Leer más »
Former Coinbase employee pleads guilty to insider trading charges | EngadgetIshan Wahi faces a prison sentence of between 36 and 47 months as part of his plea deal..
Leer más »