A former product manager for Coinbase Global Inc and his brother agreed to settle U.S. Securities and Exchange Commission (SEC) charges related to insider trading of crypto asset securities, the regulator said on Tuesday.
Former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, agreed to settle charges that they engaged in a scheme to trade ahead of multiple announcements regarding at least nine crypto asset securities that would be made available on Coinbase’s platform, the SEC said in a statement.
Lawyers for the Wahi brothers did not respond to Reuters’ requests for comment.
Ishan Wahi was sentenced to two years in prison earlier this month after pleading guilty to related criminal charges. In January, Nikhil Wahi was sentenced to 10 months in prison.
By Chris Prentice / Reuters