#Nikhil Wahi

[beardedmrbean]

Feb. 8 (UPI) -- A former employee of the cryptocurrency exchange Coinbase pleaded guilty to insider trading by using confidential information from his company to determine which crypto assets would be listed on the exchange.

Ishan Wahi, a former Coinbase product manager, admitted on Tuesday to giving information to others about cryptocurrencies that the company was going to be listing on its platform. Wahi is the first person to plead guilty to an insider trading case involving cryptocurrency, U.S. Attorney Damian Williams said.

"Whether it occurs in the equity markets or the crypto markets, stealing confidential business information for your own personal profit or the profit of others is a serious federal crime," said Williams.

Beginning in October 2020, Wahi worked at Coinbase as a product manager on the asset listing team. He used his job to provide confidential information about which crypto assets would be listed, to his brother Nikhil Wahi and Sameer Ramani. Wahi and Ramani then sold the assets for a profit after they were announced.

RELATED Puerto Rico man charged with $110 million cryptocurrency fraud

Prosecutors said the three men made $1.5 million in illegal profits.

Wahi faces a maximum of 20 years in prison and is set to be sentenced on May 10. Nikhil Wahi was sentenced to 10 months in prison. Ramani has also been charged.

The charge comes as cryptocurrency exchanges face increased turbulence and scrutiny following the collapse of FTX.

RELATED Report: North Korean hackers stepping up crypto attacks

Sam Bankman-Fried, the founder of FTX, pleaded not guilty last month to eight federal charges ranging from wire fraud and conspiracy to commit money laundering, to conspiracy by misusing customer funds as prosecutors said he used users' funds to purchase expensive real estate and to donate millions to political campaigns.

In the wake of the FTX scandal, Coinbase announced that it would lay off about 950 workers 900 and incur $149 million to $163 million in restructuring efforts, including severance packages and termination benefits, citing "market conditions" for the move.

Last month, the New York State Department of Financial Servicesordered Coinbase to pay $50 million to settle charges it failed to conduct proper background checks on new user accounts and another $50 million to bolster its compliance program.

[icubeswiretechnologies]

Flipkart's Marketing Lead: Nikhil Wahi at Influencer Conclave 2023

📢 Exciting News! 🎉 Join us at India Influencer Conclave 2023 as we welcome Nikhil Wahi, Marketing Commercials Lead from Flipkart, for an insightful case study session. Limited seats available for this exclusive event at Camellias Club, Gurgaon on 25th August. Reserve your spot now and gain invaluable marketing expertise straight from the industry leader!

[noisynutcrusade]

SEC settles Coinbase insider trading scheme charges with Wahi brothers

The US Securities and Exchange Commission (SEC) said on May 30 that it has settled with two individuals involved in a Coinbase insider trading scheme. SEC settlement The SEC said that Ishan Wahi, formerly a product manager at Coinbase, and his brother Nikhil Wahi settled the relevant charges. The regulator alleged that Ishan Wahi informed Nikhil Wahi and his friend Sameer Rami regarding upcoming…

[indiawestnewsjournal]

Today World News | Brothers Settle Crypto Insider Trading Scheme, Get Jail Time | India West

Today World News - Brothers Ishan and Nikhil Wahi, associated with the crypto exchange platform Coinbase, have agreed to settle charges that they engaged in insider trading through a scheme, the US Securities and Exchange Commission (SEC) announced May 31.

The Wahi brothers were involved in insider trading through a scheme to trade ahead of multiple announcements regarding at least nine crypto asset securities that would be made available for trading on the Coinbase platform.

[coinatory]

SEC Settles With Coinbase Employee For Insider Trading Charges

Ishan Wahi, a former manager of Coinbase, and his brother, Nikhil Wahi, agreed to settle allegations of insider trading using information obtained from the exchange, the Securities and Exchange Commission (SEC) stated on Tuesday. The former has been forced to forfeit 10.97 ETH ($20,848.92) and 9,440 USDT, while the latter was made to forfeit $$892,500. The SEC's news release states that the brothers' fines are prejudgment interest in addition to penalties for disgorgement of illegal proceeds from their trading scheme. The brothers were prosecuted by the Department of Justice in July 2021 in the first-ever insider trading case involving cryptocurrency, along with one of their friends, Sameer Ramani. Specifically, Ishan Wahi was accused of tipping his brother and friend with information about coins that would soon be listed at

Read more on SEC Settles With Coinbase Employee For Insider Trading Charges

[all-about-news24x7]

SEC Moves Toward Conclusion in Coinbase Insider Trading Case

The insider trading case involving the Wahi brothers and Coinbase is nearing its conclusion. Ishan Wahi, a former product manager at crypto exchange Coinbase, and his brother Nikhil Wahi have agreed to settle the insider trading charges with the United States Securities and Exchange Commission (SEC). On May 30th, the US SEC announced the news about settling with the Wahi brothers, providing some…

[mystlnewsonline]

Former Coinbase Mgr. Agree to Settle Insider Trading Charges

Former Coinbase Manager and His Brother Agree to Settle Insider Trading Charges Relating to Crypto Asset Securities Washington, DC (STL.News) The Securities and Exchange Commission today announced that former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, agreed to settle charges that they engaged in insider trading through a scheme to trade ahead of multiple announcements regarding at least nine crypto asset securities that would be made available for trading on the Coinbase platform.  Ishan and Nikhil Wahi each agreed to be permanently enjoined from violating Section 10(b) of the Securities Exchange Act and Rule 10b-5 and to pay disgorgement of ill-gotten gains, plus prejudgment interest.  As is often the case when a criminal court has already ordered defendants to forfeit their ill-gotten gains, the disgorgement and prejudgment interest in the SEC's case would be deemed satisfied by the orders of forfeiture of the Wahi brothers' assets in the criminal action, if approved by the court, and the SEC determined not to seek civil penalties in light of the Wahi brothers' prison sentences. The SEC's complaint, filed on July 21, 2022, in the U.S. District Court for the Western District of Washington, alleged that, while employed at Coinbase, Ishan Wahi helped to coordinate the platform's public listing announcements that included what crypto assets would be made available for trading.  According to the complaint, Coinbase treated such information as confidential and warned its employees not to trade on the basis of, or tip others with, that information.  However, from at least June 2021 to April 2022, in breach of his duties, Ishan repeatedly tipped the timing and content of upcoming listing announcements to his brother, Nikhil Wahi, and his friend, Sameer Ramani.  Ahead of those announcements, which usually resulted in an increase in the assets' prices, Nikhil Wahi and Ramani allegedly purchased at least 25 crypto assets, at least nine of which were securities, and then typically sold them shortly after the announcements for a profit.  The Wahi brothers agreed, as part of the settlement, not to deny the SEC's allegations. "While the technologies at issue, in this case, for may be new, the conduct is not.  We allege that Ishan and Nikhil Wahi, respectively, tipped and traded securities based on material nonpublic information, and that's insider trading, pure and simple," said Gurbir S. Grewal, Director of the SEC's Division of Enforcement. "The federal securities laws do not exempt crypto asset securities from the prohibition against insider trading, nor does the SEC.  I am grateful to the SEC staff for successfully working to resolve this matter." Subject to court approval, Ishan and Nikhil Wahi consented to the entry of final judgments that permanently enjoin them from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.  In the criminal action, Ishan and Nikhil Wahi pled guilty to conspiracy to commit wire fraud. As a result, Ishan Wahi was sentenced to 24 months in prison and ordered to forfeit 10.97 ether and 9,440 Tether, and Nikhil was sentenced to 10 months in prison and ordered to forfeit $892,500. The SEC's investigation was conducted by Michael Brennan, Jennie B. Krasner, and Gregory Padgett, with assistance from Patrick McCluskey, Sejal Bhakta, and Donald Battle.  The case was supervised by Paul Kim, Joseph Sansone, and Carolyn M. Welshhans.  The litigation is led by Daniel Maher and Peter Lallas and supervised by Olivia Choe.  The SEC appreciates the assistance of the U.S. Attorney's Office for the Southern District of New York and the FBI. SOURCE: Securities and Exchange Commission (SEC) Read the full article

[360ekonomi]

SEC, eski Coinbase çalışanıyla içeriden bilgi ticareti ücretleri konusunda anlaştı

ABD Menkul Kıymetler ve Borsa Komisyonu (SEC), ajansın Salı günü açıkladığına göre, eski bir Coinbase ürün müdürü ve kardeşine içeriden öğrenenlerin ticaretine karışmakla ilgili suçlamalarda uzlaşmaya vardı. SEC, Coinbase’in eski çalışanı Ishan Wahi ve kardeşi Nikhil Wahi’nin “Coinbase platformunda alım satıma açılacak en az dokuz kripto varlık menkul kıymetiyle ilgili birden fazla duyuru…

[todaynowreport]

SEC settles case against Wahi brothers for Coinbase insider trading

Former Coinbase product manager Ishan Wahi and his brother Nikhil Wahi have agreed to settle charges of insider trading brought against them by the United States Securities and Exchange Commission (SEC), the agency announced onMay 30. The brothers were accused of using knowledge of nine crypto assets that would be listed on Coinbase in the future to purchase before listing. The SEC filed suit…

[cointahmin]

Coinbase eski yöneticisi, ABD’de görülen insider trading davasında 2 yıl mahpus cezasına çarptırıldı.Coinbase‘in eski yöneticilerinden birinin insider trading ile suçlandığı dava sonuçlandı. Hakim, yargılanan yöneticiyi iki yıl mahpus cezasına çarptırdı.Eski Yöneticinin Davasında Hakim 2 Yıl Mahpus Cezası VerdiCoinbase Küresel Inc’in eski eser müdürü olan Ishan Wahi, Salı günü ABD savcılarının kripto para ünitesini içeren insider trading davası olarak isimlendirdikleri davada iki yıl mahpus cezasına çarptırıldı. ABD Bölge Yargıcı Loretta Preska, 32 yaşındaki Ishan Wahi’nin Manhattan federal mahkemesinde cezasını açıkladı. Açıklanan ceza, hatasız olduğunu tez eden FTX kurucusu Sam Bankman-Fried aleyhindeki dava da dahil olmak üzere New York’taki ABD savcıları tarafından açılan yüksek profilli kripto para ünitesiyle ilgili birkaç davadan biriydi.Savcılar, Wahi’nin kardeşi Nikhil ve arkadaşları Sameer Ramani ile dünyanın en büyük kripto para borsalarından biri olan Coinbase’de hangi dijital varlıkların listeleneceğine dair saklı bilgileri paylaşması ile eski yöneticiyi suçladı.Bununla birlikte yönetici suçlamaların akabinde iki yıl mahpus cezasına çarptırıldı.

[studdfeed]

Fired Coinbase Executive Caught Insider Trading Sentenced to 2 Years in Prison

After pleading guilty earlier this year, former Coinbase product manager Ishan Wahi was sentenced to 2 years in prison in a landmark case for insider trading with cryptocurrencies. The sentence exceeds the 10-month prison sentence of Ishan’s brother – Nikhil Wahi – with whom he conspired for the crime. Two years for crypto insider trading According to a report by ReutersIshan Wahi was sentenced…

[etiennekissborlase]

Coinbase Ex Manager Sentenced To A 2 Year Jail Term For Insider Trading

Coinbase Ex Manager Sentenced To A 2 Year Jail Term For Insider Trading https://bitcoinist.com/coinbase-manager-sentenced-2-year-jail-term/ Ishan Wahi, a former Product Manager at Coinbase, has been sentenced to jail for financial crimes. He was arrested for insider trading in July last year. Coinbase Ex-Manager Receives Two Years Jail Sentence According to a report from Reuters, on Tuesday, May 9, 2023, US District Judge Loretta Preska passed a sentence in a Manhattan federal court after Ishan Wahi pleaded guilty to two counts of conspiracy to commit wire fraud in February. Before February, Ishan Wahi, who was reported to have provided his brother Nikhil Wahi and one Sameer Ramani with insider trading information, initially refuted the allegations thrown at him and pleaded not guilty. An earlier investigation by the New York Southern District established that on multiple occasions between June 2021 and April 2022, Ishan Wahi breached his duties of trust and confidence to Coinbase after disclosing confidential trading information that he learned in the course of his employment with the crypto exchange. In July 2022, New York prosecutors charged Ishan Wahi and his brother Nikhil alongside Sameer Ramani, with conspiracy to commit wire fraud using confidential information from Coinbase. The prosecutors had concluded that Ishan Wahi’s trading tips were instrumental to the convictions. Wahi and his accomplices made nearly $1.5 million in profits by illegally trading 55 digital assets ahead of Coinbase’s official listings and announcements. Ishan Wahi’s brother, Nikhil, pleaded guilty to wire fraud conspiracy charges in September 2022 and was sentenced to 10 months in prison. A Warning For Potential Bad Actors Ishan Wahi’s legal team had requested a reduced prison sentence, similar to his brother Nikhil’s. They cited previous insider trading cases that resulted in little or no jail time. However, New York prosecutors had previously recommended a sentence of over three years for Ishan. The purpose was to deter other individuals who possess confidential corporate trading information and may be tempted to misuse it. Ishan Wahi received the minimum prison sentence of two years for insider trading, despite facing a potential 20-year sentence for each count. This shows how severe insider trading is and sends a message to others considering this illegal practice. via Bitcoinist.com https://bitcoinist.com May 10, 2023 at 12:30AM

[smarthomeease]

Coinbase wins $470,000 restitution in insider trading case

The brother of a former Coinbase employee has agreed to pay the cryptocurrency exchange nearly $470,000 for his role in an insider trading scheme. According to a New York district court deposit Signed on April 6 and made public on April 10, Nikhil Wahi — brother of former Coinbase chief product officer Ishan Wahi — will have to start making restitution payments while serving jail time in what…

[earningpill]

Coinbase wins $470K restitution in insider trading case

The brother of a former Coinbase employee has agreed to pay the cryptocurrency exchange nearly $470,000 for his role in an insider trading scheme. According to a New York District Court filing signed on April 6 and made public on April 10, Nikhil Wahi — brother of former Coinbase product manager Ishan Wahi — will be required to begin making restitution payments while serving time in prison in…

[worldspotlightnews]

SEC reaches 'agreement in principle' to resolve insider trading case of Coinbase product manager

The United States Securities and Exchange Commission is moving forward with a resolution to the case against a former product manager at Coinbase Global accused of insider trading. In an April 3 filing in U.S. District Court for the Western District of Washington, the SEC said it had reached “an agreement in principle” with Ishan Wahi. The former Coinbase employee — along with his brother Nikhil…

[coinatory]

Ex-Coinbase Product Manager Sentenced To 2 Years For Insider Trading

According to a Bloomberg report, Ishan Wahi, a former product manager at Coinbase, was sentenced to two years in prison by the Department of Justice (DOJ) for insider trading in the cryptocurrency sector. Wahi was accused of sharing confidential information about upcoming cryptocurrency listings with his brother and another individual, resulting in illicit gains of over US$ 1 million. This is the second case of insider trading, prosecuted by the DOJ in the cryptocurrency industry. Nate Chastain, a former head of product at OpenSea, was also found guilty of money laundering and wire fraud for using privileged information to profit from NFT trading. Chastain faces a maximum sentence of 40 years, while Nikhil Wahi, Ishan Wahi's brother, has been sentenced to 10 months in prison for a conspiracy to commit wire fraud. Despite Ishan

Read more on Ex-Coinbase Product Manager Sentenced To 2 Years For Insider Trading