Former Fabric CFO Nevin Shetty was convicted on four counts of wire fraud after misappropriating $35 million from his former employer related to a failed cryptocurrency investment scheme, the United States Attorney’s Office for the Western District of Washington said in a Thursday press release.
Beginning April 1 to April 12, 2022, the former CFO secretly funneled company funds without the knowledge of other executives from Fabric — a retail software company — to an account for HighTower Treasury, a cryptocurrency platform he owned. Shetty, 41, subsequently invested those funds in cryptocurrency positions with the aim of providing Fabric with interest, before…
