Former Coinbase staffer Ishan Wahi is fighting to reduce his sentence after pleading guilty in one of the first ever crypto insider trading case. jackschickler reports.
Wahi has a sentencing hearing on May 9 in New York, after he pleaded guilty to one of the first ever insider trading case concerning crypto trading.
“The Defendant respectfully submits that a sentence of no more than 10 months incarceration, together with several other consequences of Ishan’s conviction, would impose a sufficient, but not excessive, punishment for the crimes of conviction,” said the filing.has intervened in a related case brought by the Securities and Exchange Commission, arguing that the digital assets listed were not in fact securities.
The Tuesday filing cites that significant public attention and Wahi’s previous “modest, law-abiding and admirable life” and mental health conditions as reasons for leniency. "Ishan is a man of outstanding character who crossed the line," the document said."His promising career has ended instantly, with no realistic prospects of similar employment in the future."to two counts of conspiracy to commit wire fraud by sharing details of future Coinbase crypto token listings with his brother Nikhil, and another contact, Sameer Ramani, in a case heard by Judge Loretta Preska in the Southern District of New York.
A plea deal entered by Ishan Wahi and the U.S. government in February suggested a sentence of three to four years in jail, with a fine in the range $15,000-$150,000. In January, Nikhil Wahi was sentenced to
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