Former Coinbase product manager Ishan Wahi has been sentenced to 24 months in prison for his role in a criminal insider trading scheme.
A federal judge has sentenced Ishan Wahi, the former product manager at Coinbase Global accused of insider trading, to 24 months in prison.
In a May 9 hearing in United States District Court for the Southern District of New York, Judge Loretta Preska sentenced Wahi to 24 months in prison for his role in using confidential information he obtained during his time working at Coinbase to profit off new listings of tokens, totaling up to $1.5 million. Preska ordered Wahi to surrender by June 21 at 2:00 PM ET to serve his sentence at the Fort Dix Federal Correctional Institution in New Jersey.
“You spoke very nicely, you said all the right things,” said the judge in regard to Wahi. “I hope that you can make this up to your parents.” The former Coinbase employee — along with his brother Nikhil Wahi and associate Sameer Ramani — allegedly used confidential information he obtained from Coinbase to profit off new listings of tokens, totaling more than $1 million. U.S. Authorities arrested Ishan and Nikhil in July 2022, while they were attempting to fly to India.
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