The ex-CFO of a private software company has been declared guilty of wire fraud after using the company’s cash to fund a cryptocurrency side business.

Crypto Side Hustle Gone Wrong

In a recent press release , the US Attorney’s Office, Western District of Washington, announced the conviction of Nevin Shetty, who misappropriated $35 million belonging to his former employer. The 41-year-old man from Mercer Island, Washington, resumed as the CFO of an unnamed private software company in March 2021, a time during which the firm was actively fundraising.

The company established an investment policy that stated that this newly raised cash should only be invested in money market accounts and other low-risk markets, while the company continued to focus on improving current business operations.

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