2023-05-30 22:07:15
© Reuters. Representation of the crypto asset in front of the Coinbase logo in an illustrative photo 03/04/2022 REUTERS/Dado Ruvic
By Chris Prentice
(Reuters) – A former product manager at Coinbase (NASDAQ:) and his brother have agreed to settle a settlement surrounding accusations by the U.S. Securities and Exchange Commission (SEC) related to insider trading. of cryptocurrency securities, the regulator said on Tuesday.
The company’s former product manager, Ishan Wahi, and his brother, Nikhil Wahi, are accused of involvement in a scheme to close deals ahead of the announcement of at least nine cryptocurrency securities that would be made available on the Coinbase platform, the SEC said. in a statement.
Lawyers for the Wahi brothers did not immediately respond to requests for comment.
Ishan Wahi was sentenced to two years in prison earlier this month after pleading guilty to related criminal charges. In January, Nikhil Wahi was sentenced to 10 months in prison.
(Reporting by Kanishka Singh and Chris Prentice)
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