In brief
- A Washington man has been jailed for two years for diverting $35 million in company funds to a DeFi platform he operated.
- Nevin Shetty was found guilty of wire fraud last November for secretly moving the funds to HighTower Treasury.
- Following the Terra collapse, the value of the funds crashed to near zero, with the impact on Shetty’s employer causing it to lay off 60 people.
A Washington man has been sentenced to two years in prison after diverting $35 million in funds from his former employer to his own DeFi platform—and losing nearly all of it.
Nevin Shetty, 42, was found guilty of wire fraud last November for taking and misusing funds from the private software company at which he worked.
Shetty, who drafted a…
