On May 30, the United States Securities and Exchange Commission (SEC) announced that Ishan Wahi, the former Coinbase product manager, and his brother, Nikhil Wahi, had agreed to settle charges brought forth by the regulator accusing them of engaging in an insider trading scheme. SEC Settlement With Former Coinbase Product Manager In this way, the two defendants also agreed that their actions violated Section 10(b) of the Securities Exchange Act. Accordingly, Ishan has been sentenced to two years in prison, while his brother, Nikhil, will serve ten months behind bars. In a statement, the SEC also said the former Coinbase product manager forfeited 10.97 ETH and 9,440 USDT. On the other hand, Nikhil has submitted to the state 892,500 USDT. Related Reading: Russia scraps plans for a national cryptocurrency exchange, as HedgeUp (HDUP) Prepares for world Domination migrating on Stellar This is part of the settlement and forfeiture of securities the SEC said were ill-gotten. The case was settled roughly a year after the SEC filed the suit at the District Court for the Western District of Washington, accusing the ..
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