SEATTLE — A Mercer Island man has been sentenced to two years in federal prison after a jury found him guilty of wire fraud for secretly transferring $35 million from his employer into a failed cryptocurrency venture.
Nevin Shetty, former chief financial officer of tech company Fabric, was convicted on four counts of wire fraud. Federal prosecutors said Shetty abused his position of trust to divert company funds into his personal crypto startup, Hightower Treasury, in 2022.
Assistant U.S. Attorney Philip Kopczynski described the case as “a big-time massive fraud that this defendant deliberately knowingly carried out,” adding that “this was all about greed. He never did this for any reason other than to line his own pockets.”…