The brother of a former Coinbase product manager, Nikhil Wahi, has been sentenced to 10 months in prison for insider trading of crypto tokens, in which he leveraged his familial connection to his brother, Ishan Wahi.
The Wahi brothers were arrested in July 2022, after Ishan was accused of passing on confidential information about upcoming Coinbase listings to his brother, allowing him to invest large amounts of money into those tokens before other investors knew, giving them an unfair advantage.
Nikhil generated almost $900,000 in profit trading 40 different tokens.
A friend of the brothers, Sameer Ramani, was also involved in the case, and helped the group generate about $1.5 million in total, but he remains at large.
