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Former CFO Convicted of $35M Crypto Fraud Amid Terra Collapse Fallout

Former CFO Convicted of $35M Crypto Fraud Amid Terra Collapse Fallout

Author:

Global Cryptocurrency

Published:

2025-11-15 07:12:02

16

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BTCCSquare news:

Nevin Shetty, former CFO of a software firm, faces up to 20 years in prison after a Seattle jury convicted him on four counts of wire fraud. Shetty misappropriated $35 million in company funds, funneling the capital through his crypto exchange HighTower Treasury into DeFi lending protocols.

The scheme initially generated $133,000 in personal profits before collapsing with Terra's implosion in May 2022. This case may accelerate regulatory scrutiny of crypto investments, particularly around corporate treasury management in decentralized finance.

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