| On Coinbase
Nikel Wahi Pled Guilty Now Contests
Restitution Bill so Income Doc Sept 27
By Matthew
Russell Lee, Patreon Maxwell
Book
SDNY COURTHOUSE,
Sept 14 – In what at least the
defense is calling a novel
crypto currency prosecution
for insider trader, Ishan Wahi
and Nikhil Wahi of Coinbase
were arraigned on August 3,
and their lawyer(s) made
arguments about moving to
dismiss. Both Wahi
initial bond orders, 12 pages,
on Patreon here
On January 10,
2023, after pleading guilty,
Wahi was sentenced to 10
months: " Defendant Nikhil
Wahi present with his attorney
Priya Chaudhry. AUSA Noah
Soloweijczyk present. The
defendant is sentenced to: 10
months incarceration followed
by 2 years of supervised
release. All standard terms
and conditions of supervised
release with the special
conditions of: obeying the
immigration laws and searches.
Forfeiture in the amount of
$892,500.00; special
assessment in the amount of
$100 to be paid promptly.
Restitution deferred for 90
days. The defendant is to
surrender to the facility
designated no later than
February 6, 2023."
On February 7,
Ishan Wahi followed suit and
pled guilty: "Change of Plea
Hearing as to Ishan Wahi held
on 2/7/2023. Defendant present
Ishan Wahi with his attorneys
Andrew St. Laurant and David
Miller. AUSA Noah Soloweijczyk
present. The agreement is
acceptable to the Court. The
defendant withdraws his
pre[vious] plea of not guilty
and enters a plea of guilty to
counts one and two of the
indictment. Sentencing
scheduled for May 10, 2023 at
12:00
On May 2, the US
asked that he be sentenced to
37 to 46 months.
On May 5, Ishan
Wahi's lawyer wrote in that
$900,000 Sameer Ramani made
frmo trading XYO after
"Coinbase itself mistakenly
leaked information about the
XY) listing on Coinbase's
website."
On May 9, Judge
Preska sentenced Wahi to 24
months in prison.
On June 19 -
Juneteenth - Ishan Wahi asked
to delay his surrender from
June 26 to July 17, to contest
and try to change his
designation to AUSP Thomson in
Illinois. He wanted and wants
Fort Dix or FCI Beamont or
Bastrop.
Inner City Press
live tweeted the earlier
proceeding, here
On September 14,
2023, Judge Preska dismissed
Nikhil Wahi's complaints about
fees claimed by Coinbase, but
gave him time to update his
lowered income: "ORDER as to
(22-Cr-392-2) Nikhil Wahi.
Before the Court are a number
of letters from counsel for
the parties and counsel for
Coinbase with respect to Mr.
Nikhil Wahi's restitution
obligations. (Dkt. nos. 86,
88, 109, 111, 113, 114.) The
Court has also received in
camera and reviewed billing
records from Latham &
Watkins to Coinbase relating
to services rendered as a
result of the Government's
investigation of Mr. Wahi.
[Also include L&W attorney
affirmation.] With respect to
the billing records, the Court
has reviewed them and finds
them to reflect services
rendered in connection with
the Government's investigation
of Mr. Wahi and finds them to
be reasonable both as to
billing rate and time spent.
With respect to Mr. Wahi's
request that the Probation
Office prepare a supplemental
Presentence Investigation
Report, the request is denied.
Based on all of the documents
on the record, the Court finds
that it has "information
sufficient... to exercise its
discretion in fashioning a
restitution order." 18 U.S.C.
§ 3664(a). Counsel for Mr.
Wahi asserts that "his
financial condition has
changed materially since his
sentencing." (Dkt. no. 111 at
3.) Accordingly, to the extent
that Mr. Wahi wishes to update
his financial condition, he
may do so no later than
September 27."
The case is US v.
Wahi, et al., 22-cr-392
(Preska)
***
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