| On Coinbase
Wahi Defense Said It Would Move to Dismiss
Then Pled Guilty Now Travel Denied
By Matthew
Russell Lee, Patreon Maxwell
Book
BBC -
Honduras
- CIA
Trial Book - NY
Mag
SDNY COURTHOUSE,
Nov 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
Inner City Press
live tweeted it here
OK - as promised,
now Co*nbase Wahi's
arraignment, before
SDNY Judge Preska. Both
defendants plead not guilty.
AUSA
Solowiejczyk: We proposed a $1
million bond for Ishan Wahi,
secured by funds in a
brokerage account,
approximately $150,000 when
liquidated.
AUSA: Can
transfer funds to pay
attorneys' fees. [Why then did
also crypto Eddy Alexandre
today say his lawyer Bove is
paid by "friends" / investors
because all of his assets are
frozen?
AUSA: For Nikhil
Wahi, the security is
$75,000.
Nikhil Wahi's
counsel (Priya Chaudry, who
also represented Jen Shah of
#RHOSLC, who recently pled
guilty
Wahi's
counsel: This is not insider
trading. There are no
securities. There is a case
before Judge Furman, US v.
Chastain. [Inner City Press
also covering that]. We intend
to move to dismiss as this is
not an insider trading case...
Wahi's counsel:
Co*nbase was testing the
tokens, people knew about it.
So there's no property, and
therefore no wire fraud issue.
We will move to dismiss. Mr.
Wahi was stopped at the
airport and his electronics
were seized under a forthwith
grand jury subpoena
Wahi's counsel:
We expect robust motions.
AUSA: This prosecution is
consistent with Carpenter
& its progeny... All
devices were lawfully obtained
& searched.
Wahi's counsel:
We'd like motions due in Jan,
replies Feb 13.
The Court: And
we'll get together March 22 at
10. Adjourned.
Previously, the
US Attorney's Office said it
was "charging ISHAN WAHI, a
former product manager at
Coinbase Global, Inc.
(“Coinbase”), NIKHIL WAHI, and
SAMEER RAMANI, with wire fraud
conspiracy and wire fraud in
connection with a scheme to
commit insider trading in
cryptocurrency assets by using
confidential Coinbase
information about which crypto
assets were scheduled to be
listed on Coinbase’s
exchanges."
On September 12,
this: "Change of Not Guilty
Plea to Guilty Plea as to
Nikhil Wahi (2) Count 1... The
defendant withdraws his
previous plea of not guilty
and enters a plea of guilty to
Count One of the Indictment.
Sentencing scheduled for
December 13, 2022 at 12:00 pm.
"
In mid November,
Wahi's motion for permission
to travel pre-sentencing was
denied, in part because filed
late: "MEMO ENDORSEMENT as to
Nikhil Wahi (2) denying [52]
LETTER MOTION addressed to
Judge Loretta A. Preska from
Priya Chaudhry dated
11.11.2022 re: Permission to
Travel to San Fransisco.
ENDORSEMENT: Mr. Wahi's
request for approval to travel
is denied due, among other
things, to the lateness of the
request. (Signed by Judge
Loretta A. Preska)."
The case is US v.
Wahi, et al., 22-cr-392
(Preska)
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