A U.S. federal judge sentenced Ishan Wahi, a former product manager for Coinbase, to a two-year prison term in an insider trading case.
Wahi pleaded guilty to wire fraud charges in February, as previously reported. Wahi, along with his brother and a friend, pleased guilty to perpetrating a scheme to front-run digital assets listed on the Coinbase exchange. The alleged scheme netted those involved some $1.5 million.
Reuters reported Tuesday that prosecutors had sought a three-year term for Ishan Wahi. His brother, Nikhil, received a 10-month prison term in January for his role in the insider trading scheme.
The Department of Justice indicted the three involved in the scheme in July of last year. It was the first case of its kind to be brought in the United States, prosecutors said at the time.
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Source: https://www.theblock.co/post/229991/ex-coinbase-product-manager-handed-two-year-prison-term-for-insider-trading-reuters?utm_source=rss&utm_medium=rss