- Ishan Wahi has filed a new petition
- He asks for consideration of cooperation with the investigation
Ex-Coinbase product manager Ishaan Wahi has filed a new petition in the court case. He asks Themis to impose a prison term of not more than 10 months.
Recall that the man is accused of insider trading in tokens. He was informing his brother about upcoming listings so he could buy assets and capitalize on the appreciation.
The next court hearing is on May 9 in New York.. The lawyers should pass a final verdict on Wahi.. This will be one of the first real sentences for insider trading in cryptocurrencies.
In a new statement, Ishan Waha’s lawyers are asking the court for leniency. They draw attention to the “modest and law-abiding life” of the accused. And also on his complicated mental state.
“Ishaan is a man of outstanding character who has crossed the line. His promising career ended instantly, with no real prospect of getting a similar job in the future.”
February 7, the former Coinbase manager pleaded guilty to two counts. It is a conspiracy to commit fraud using electronic communications, as well as the disclosure of proprietary information.
Such articles imply imprisonment for 3 to 4 years, plus a fine of up to $150,000. By the way, the trial of the ex-manager’s brother (and co-conspirator) Nikhil Vakhi has already taken place.
He received a 10-month prison sentence. The man must also pay $470,000 in restitution to Coinbase.