Overview
- Jurors in Seattle convicted Nevin Shetty on four counts of wire fraud on November 7 after roughly ten hours of deliberation.
- As CFO, he secretly transferred $35,000,100 of company cash to HighTower Treasury, a side venture he created in February 2022, and routed the funds into DeFi lending platforms advertising about 20% yields.
- The scheme produced about $133,000 for him and a business partner in its first month before collapsing in early May 2022, leaving the investment nearly worthless by May 13.
- The company’s policy he helped draft required keeping cash in FDIC‑insured accounts, and after revealing the loss to two executives he was fired and the FBI opened an investigation.
- U.S. District Judge Tana Lin set sentencing for February 11, 2026, with each wire-fraud count carrying up to 20 years in prison, and prosecutors described his motive as personal profit.