US EditionMercer Island Man Convicted of Defrauding Employer in $35M Cryptocurrency Scheme
Nevin Shetty diverted $35 million to fund a crypto side business with promised 20% DeFi yields; the investment collapsed to nearly zero within one month, DOJ said.
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9 Articles
Former Mercer Island CFO found guilty of wire fraud, $35M crypto gamble goes to zero
A Mercer Island man was convicted of four counts of wire fraud after stealing $35 million from a former employer to fund his cryptocurrency business, and ultimately lost all of the funds.
Former Mercer Island CFO found guilty of $35M wire fraud
A Mercer Island man was convicted of four counts of wire fraud after stealing $35 million from a former employer to fund his cryptocurrency business, and ultimately lost all of the funds. Nevin Shetty, 41, was found guilty after a nine-day jury trial, where jurors deliberated for approximately 10 hours before finding Shetty guilty, the Department of Justice (DOJ) announced. “This defendant exploited his position of power and trust in an attempt …
US convicts crypto founder for $35M wire fraud
A jury in Seattle has found 41-year-old Nevin Shetty guilty on four counts of wire fraud after he diverted approximately $35 million from his former employer into a cryptocurrency scheme he controlled with the aim of earning interest off the capital. Shetty was reportedly hired in March 2021 as chief financial officer (CFO) of a private software company that was in the process of raising multiple rounds of funding. Shetty commingled funds as CF…
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