CFO Convicted for Losing $35 Million of Company Money in Crypto Side Hustle

Nevin Shetty, the former CFO of a software company, was convicted of wire fraud for misappropriating $35 million of company funds. After receiving notice of his impending dismissal, Shetty secretly transferred these funds into his crypto platform, HighTower Treasury. Initially, the investment in decentralized finance (DeFi) protocols yielded a profit of over $133,000. However, the collapse of the Terra stablecoin in May 2022 wiped out approximately $60 billion in value across the cryptocurrency market, resulting in Shetty's investments plummeting to near-zero. Following the loss, he informed colleagues at the firm and was subsequently fired. A jury in Seattle deliberated for 10 hours before finding him guilty on four counts of wire fraud. He faces up to 20 years in prison when sentenced in February 2026.

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