- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-05-11T15:41:00
A former Coinbase product manager was sentenced to two years in federal prison for his role in a crypto insider trading scheme.
Ishan Wahi was sentenced Tuesday by Judge Loretta Preska in U.S. District Court for the Southern District of New York, according to a Department of Justice (DOJ) press release. He was also ordered to forfeit crypto assets he received in connection with the scheme, prosecutors said.
The DOJ previously said the case was its first enforcement of insider trading on crypto assets.
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The Department of Justice and Securities and Exchange Commission announced charges against a dozen individuals across four separate insider trading cases, including an alleged scheme involving the chief compliance officer of an international payment processing company.
Coinbase said it was served a Wells Notice by the Securities and Exchange Commission for potential violations of securities law regarding multiple of its cryptocurrency products.
Ishan Wahi, a former Coinbase product manager, pleaded guilty to wire fraud conspiracy in the first cryptocurrency insider trading case.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
