A Washington man has been sentenced to two years in prison after diverting $35 million in funds from his former employer to his own DeFi platform—and losing nearly all of it. Nevin Shetty, 42, was found guilty of wire fraud last November for taking and misusing funds from the private software company at which he worked. Shetty, who drafted a “conservative” company investment policy, secretly moved $35 million in company funds to his side business HighTower Treasury, after being told in April 2022 that his role as CFO would end due to performance issues. Those funds were then invested in high-yield DeFi lending ... (full story)