Brother of former Coinbase employee pleads guilty to charges related to insid...
Nikhil Wahi and his brother Ishan were arrested and charged in July, while their associate Sameer Ramani remained at large at the time of publication. Nikhil Wahi, who was arrested for allegedly working with his brother and an associate on a scheme to commit insider trading using crypto, has reportedly entered a guilty plea for wire fraud conspiracy charges.According to a Monday report from Reuters, Wahi admitted to authorities during a virtual hearing that he used confidential information obtained from Coinbase to make profits from trading crypto. Wahi’s brother Ishan worked as a product....
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Insider trading charges have started to hit the crypto markets. Easily the biggest story yet in this topic came in recent months, with the indictment of former OpenSea head of product, Nate Chastain. The gavel is impending once more this week, as the brother of an ex-Coinbase manager has pled guilty to a wire fraud […]
The brother of a former Coinbase product manager has pleaded guilty in a cryptocurrency insider trading case. According to the U.S. Department of Justice (DOJ), he is facing up to 20 years in federal prison.
DOJ’s First Crypto Insider Trading Case
The U.S. Department of Justice (DOJ) announced Monday that Nikhil Wahi, the brother of a former product manager at Coinbase Global Inc. (Nasdaq: COIN), “pled guilty to one count of conspiracy to commit wire fraud in connection with a scheme to commit insider trading in cryptocurrency assets.” The DOJ calls it the....
Larry Dean Harmon, founder and operator of the bitcoin mixing service Helix has pleaded guilty on Wednesday to money laundering charges. Harmon’s guilty plea follows the U.S. Treasury’s Financial Crimes Enforcement Network (Fincen) fining Harmon $60 million last year. Helix Operator Pleads Guilty to Money Laundering, Conspiracy Charges According to several reports and a court-issued plea, Ohio resident Larry Harmon (38) pled guilty in a D.C. federal court on Wednesday for money laundering and conspiracy charges. Harmon detailed in court that he plans to cooperate with federal....
A Nevada man has admitted his role in laundering funds solicited for the Bitclub Network, a $722 million fraudulent cryptocurrency scheme. He also pleaded guilty to tax offenses.
Bitclub Network Investor Pleads Guilty
The U.S. Department of Justice (DOJ) announced Thursday that Gordon Brad Beckstead, a 57-year-old from Henderson, Nevada, has pleaded guilty in connection with the Bitclub Network fraud. The announcement details:
A Nevada man today admitted his role in laundering funds solicited for Bitclub Network, a $722 million fraudulent cryptocurrency scheme.
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Ishan Wahi is accused of divulging confidential information about future listings at Coinbase to his brother and an associate in a case that has attracted the SEC’s attention. Former Coinbase Global product manager Ishan Wahi pleaded not guilty to two counts of wire fraud conspiracy and two counts of wire fraud in a Manhattan federal court on Wednesday, Reuters reported. Wahi is accused by United States law enforcement and the Securities and Exchange Commission (SEC) of insider trading while at Coinbase. He was arrested in May as he attempted to board a flight to India and was charged in....