Prison Financial News

In a recent hearing in the United States District Court for the Southern District of New York, Judge Loretta Preska sentenced Ishan Wahi to two years in prison for his involvement in an insider trading scheme that had rocked the cryptocurrency industry. Wahi had worked as a product manager at Coinbase and was accused of using confidential information to profit off new token listings.

A crypto user who purchased a luxury car with Bitcoin (BTC) has faced a sentence of 18 months in prison and a $3.7 million fine in Morocco, which still considers the use of crypto as an illegal act. 

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

A federal judge has sentenced Ishan Wahi, the former product manager at Coinbase Global accused of insider trading, to 24 months in prison.

The former CFO of a special purpose acquisition company (SPAC) was sentenced to three years in prison after embezzling $5 million that was used to trade cryptocurrencies and “meme stocks."

Tornado Cash developer Alex Pertsev is set to be released from jail after spending nearly nine months in prison. Pertsev was arrested in August last year by Dutch authorities on suspicion of being involved in money laundering through the crypto mixing service Tornado Cash.

A Georgia man who stole more than 50,000 Bitcoin from the Silk Road marketplace in 2012 has been sentenced to a year in prison.

The United States Attorney’s Office for the Southern District of New York has announced the sentencing for an individual who pleaded guilty to wire fraud charges connected to “unlawfully obtained” Bitcoin from the Silk Road marketplace in 2012.

Six people involved in a cryptocurrency “Ponzi scheme” that raked in about $100 million over five years have pled guilty to a series of fraud and money laundering charges, each carrying a maximum sentence of 20 to 30 years of prison.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

Wahi was arrested as he was boarding a one-way flight to India and was found to be carrying “three large suitcases, seven electronic devices, two passports, multiple other forms of identification, hundreds of dollars in US currency, financial documents, and other personal effects.His brother, Ishan Wahi worked as a product manager assigned to a Coinbase asset listing team and, between August 2021 and May 2022, was a member of a private messaging channel reserved for a small number of employees with direct involvement in the asset listing process.The private channel was used to discuss, among other things, “exact announcement / launch dates + timelines” that Coinbase did not wish to share with all of its employees.According to prosecutors, on at least 14 occasions Wahi passed on this confidential information to either his brother or friend, Sameer Ramani. The three would then use anonymous Ethereum blockchain wallets to acquire crypto shortly before Coinbase publicly announced that it was listing or considering listing these assets on its exchanges.

From the confines of his parents’ Palo Alto home, Sam Bankman-Fried is still giving interviews.

FTX founder Sam Bankman-Fried has been given some free advice on surviving federal prison by former white collar criminal Martin Shkreli, also known as “Pharma Bro.”

French serial killer Charles Sobhraj was freed from prison in Nepal on Friday after serving most of his sentence for the murders of Western backpackers.

Greek MEP Eva Kaili is to be held in detention for another month, after after a ruling by a court in Belgium. 

After being denied bail in a Bahamas Magistrate Court, former FTX CEO Sam Bankman-Fried could spend up to two months in the country’s Fox Hill Prison, a facility with reported cases of physical abuse against prisoners and “harsh” conditions.

In the months following the announcement of my company’s first experimental title, Cyberstella, visits to my personal LinkedIn profile increased by an astonishing 300%. What does this tell us about the rising trend of anonymous developers popping up in every Web3 community to spam users with investment opportunities and then disappear from the face of the Earth? 

FTX founder and former CEO Sam Bankman-Fried should be “very concerned about prison time” after the collapse of his crypto empire, a former US federal prosecutor has said.

The main suspects in the 2018 hacking attack on the CEO of Transform Group, which advises blockchain businesses, has been sentenced to 18 months in prison.

One of the leading figures convicted of being behind the $100 million crypto “Ponzi” scheme, EmpiresX, has just been handed an over four-year jail sentence by a United States court.