{"id":13855,"date":"2022-09-12T20:52:48","date_gmt":"2022-09-12T20:52:48","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/brother-of-former-coinbase-employee-pleads-guilty-to-charges-related-to-insider-trading-report\/"},"modified":"2022-09-12T20:52:50","modified_gmt":"2022-09-12T20:52:50","slug":"brother-of-former-coinbase-employee-pleads-guilty-to-charges-related-to-insider-trading-report","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/brother-of-former-coinbase-employee-pleads-guilty-to-charges-related-to-insider-trading-report\/","title":{"rendered":"Brother of former Coinbase employee pleads guilty to charges related to insider trading: Report"},"content":{"rendered":"
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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.<\/p>\n
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\u2019s brother Ishan worked as a product manager at Coinbase, during which time he allegedly shared information regarding the launch dates of tokens to his brother and an associate, Sameer Ramani. The trio allegedly used the insider information to make roughly $1.5 million in gains from trading 25 different cryptocurrencies between 2021 and 2022.<\/p>\n
“I knew that it was wrong to receive Coinbase’s confidential information and make trades based on that confidential information,” Wahi reportedly said in court. <\/p>\n
\nBrother of ex-Coinbase manager pleads guilty to insider trading charge https:\/\/t.co\/c6ak7oRr9K pic.twitter.com\/5uBUHxyQar<\/a><\/p>\n