According to ChainCatcher, Decrypt reports that Nevin Shetty, former CFO of a software company in Washington state, was convicted on four counts of wire fraud by a federal jury for misappropriating $35 million of company funds to his self-built crypto platform and investing in high-risk DeFi protocols.
After learning he was to be fired in 2022, Shetty secretly transferred company funds, initially making a profit of approximately $133,000, but his investment was almost wiped out after the Terra ecosystem collapsed in May 2022. He subsequently admitted to the act and was fired by the company. Shetty will be sentenced next February and could face up to 20 years in prison.
