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Former Tech CFO Sentenced to 2 Years for $35M Crypto Fraud

Former Tech CFO Sentenced to 2 Years for $35M Crypto Fraud

Author:

Global Cryptocurrency

Published:

2026-03-07 20:06:02

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Nevin Shetty, the ex-CFO of a Seattle startup, secretly diverted $35 million in company funds to a personal cryptocurrency platform in 2022. The funds were invested in high-risk DeFi protocols promising 20%+ returns before being wiped out during the Terra collapse.

Shetty concealed the transfers from executives and board members until the funds were lost. After confessing, he was immediately terminated. A federal jury convicted him on four counts of wire fraud in November 2025.

The case highlights the dangers of unauthorized crypto speculation with corporate funds. At sentencing, U.S. District Judge Tana Lin noted the 'calculated breach of trust' warranted incarceration despite Shetty's eventual confession.

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