it has reached a final settlement with former Coinbase Product Manager Ishan Wahi in one of the first landmark insider trading cases in the U.S.According to the market regulator, Ishan and his brother Nikhil Wahi have both pled guilty to the charges and have agreed to refund the profits they raked in through unwholesome trading practices.
Of these assets traded, the SEC alleged that about nine can be labeled as unregistered securities, making the entire case solidify its push to crack down on Coinbase. Per the terms of the settlement, both Wahi brothers will be paying disgorgement and all prejudgment interest accrued in the case.As revealed earlier, the SEC also confirmed that Ishan has a 24-month jail term, while his brother Nikhil will spend 10 months in jail. The settlements will also see Ishan forfeit a total of 10.
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