Serious allegations against two Indian brothers in the first case of insider trading related to cryptocurrency

Serious allegations against two Indian brothers in the first case of insider trading related to cryptocurrency

New York: In the first case of insider trading related to cryptocurrency, two Indian brothers and their Indian-American friend in the US have been charged with illegal profits of more than 1.5 million dollars.

Attorney Damian Williams in the Southern District of New York and Michael J. Driscoll, assistant director in charge of the FBI’s New York office, reported the indictment Thursday. The accused Ishaan Wahi (32) and Nikhil Wahi (26) are citizens of India while their American friend of Indian origin Samir Ramani (33) lives in Houston.

The Wahi brothers and the Ramani have been charged with conspiracy to commit insider trading in crypto assets, conspiracy to commit fraud and fraud.

The US Securities and Exchange Commission also announced charges of insider trading against the three men. The Wahi brothers were arrested on Thursday morning from Seattle. At the same time, it is being said about Ramani that he is still in India.

Prosecutors say all three were involved in the first case of insider trading in cryptocurrencies. The accused carried out illegal transactions in at least 25 crypto assets and made an unfair advantage of approximately $1.5 million.

Tags: crypto currency, World news in hindi

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