Nevin Shetty, a former chief financial officer (CFO) at a Seattle startup, was indicted on May 17 in the United States District Court in Seattle on charges of wire fraud.

The indictment alleges that Shetty, 39, diverted approximately $35 million from the startup’s coffers to a cryptocurrency platform under his personal control. Shetty reportedly established this platform, known as HighTower Treasury, in February 2022 shortly before being notified of his impending departure as CFO due to concerns regarding his performance.

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