By Marco Uhrl
Investing.com – Coinbase (BVMF:) (NASDAQ:) Project Manager Ishan Wahi has regularly provided inside information to his brother Nikhil Wahi. Share information about the cryptocurrencies that will then be listed on the cryptocurrency exchange. This was so beneficial that they were able to make a profit of $1.5 million.
When this came to light, they were both arrested in Washington state, where they were staying.
A court verdict came out the day before yesterday after Nikhil pleaded guilty, which was also seen as a mitigating factor. The sentence is 10 months in prison.
Your brother Ishan is still in custody. It is subject to a maximum penalty of 20 years.
The defendants went to great lengths to cover up the transactions, according to the US Department of Justice:
“Nikhil and Ramani also created new blockchain wallets and used them regularly with no previous transaction history to further conceal their involvement in the system.”