Ishan Wahi, the former Coinbase product manager who pleaded guilty to two counts of wire fraud in February in a crypto insider trading case, has requested a reduced sentence of just 10 months in prison instead of the guideline sentence of 37 to 46 months. Wahi and his lawyers have asked the court to consider his background and circumstances at the upcoming sentencing hearing scheduled for May 2022.
As a product manager assigned to a Coinbase asset listing team, Ishan Wahi had access to highly confidential information about crypto assets to be listed on Coinbase‘s exchanges. He tipped off his brother and his friend Sameer Ramani about a soon-to-be-listed cryptocurrency, resulting in the trio making a profit. Wahi’s brother, Nikhil Wahi, is serving a 10-month prison sentence for this insider trading crime. Ramani is at large.
In his guilty plea, Wahi has admitted to making a grave error that has deeply impacted his family and friends. In his motion, Wahi outlines his achievements and good deeds, including co-founding a non-profit called TheTeacherApp, which developed educational tools for teachers in India during the pandemic.
The request states that Ishan’s accomplishments, history of good works, and acceptance of responsibility all support a moderate sentence of incarceration. The document suggests that a sentence of no more than 10 months and other consequences of his conviction would be a sufficient but not excessive punishment for the crimes of conviction.
