Former CFO indicted for diverting $35M to cryptocurrency venture

Former CFO indicted for diverting $35M to cryptocurrency venture

In the event of a conviction for wire fraud, Nevin Shetty could face up to 20 years in prison.

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Nevin Shetty, a former chief financial officer (CFO) at a Seattle startup, was indicted on May 17 in the United States District Court in Seattle on charges of wire fraud. 

The indictment alleges that Shetty, 39, diverted approximately $35 million from the startup’s coffers to a cryptocurrency platform under his personal control. Shetty reportedly established this platform, known as HighTower Treasury, in February 2022 shortly before being notified of his impending departure as CFO due to concerns regarding his performance. 

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During the period from April 1 to April 12, 2022, Shetty allegedly transferred a substantial amount of $35,000,100 from his employers to an

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