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Former CFO Jailed for Diverting $35M Company Funds into Failed Crypto Bets

Former CFO Jailed for Diverting $35M Company Funds into Failed Crypto Bets

Author:

Global Cryptocurrency

Published:

2026-03-07 11:19:02

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BTCCSquare news:

Nevin Shetty, the ex-CFO of a Washington tech firm, has been sentenced to two years in prison after funneling $35 million of corporate capital into personal cryptocurrency investments through his side venture HighTower Treasury. The scheme unraveled when the 2022 crypto market collapse—triggered by Terra's implosion—wiped out nearly the entire portfolio.

Shetty bypassed strict corporate investment policies to deploy funds across decentralized finance protocols promising 20%+ annual returns. An initial $133,000 profit quickly turned catastrophic as the bear market erased the portfolio's peak $35 million valuation. The company suffered irrecoverable losses.

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