Trump International Dubai was named Best Par 3 Course at the 11th annual World Golf Awards while Yas Acres Abu Dhabi was voted World’s Best Nine Hole Course
sports4 hours ago
Two Indian brothers, in the US, and their Indian-American friend, have been charged in the first-ever cryptocurrency insider trading scheme, in which they made illicit profits totalling over a million dollars.
Ishan Wahi, 32, and his brother Nikhil, 26, are citizens of India. The two were in Seattle, while Sameer Ramani, 33, hailed from Houston.
Damian Williams, the United States Attorney for the Southern District of New York and Michael J. Driscoll, the Assistant Director-in-Charge of the FBI's New York Field Office announced on Thursday the unsealing of an indictment.
Ramani and the Wahi brothers were charged with wire fraud conspiracy, as well as wire fraud in connection with a scheme to commit insider trading in cryptocurrency assets, by using confidential Coinbase information about crypto assets that were scheduled to be listed on its exchanges.
The Securities and Exchange Commission (SEC) also announced insider trading charges against the three men.
The Wahi brothers were arrested on Thursday morning in Seattle and will be presented in the United States District Court for the Western District of Washington. The SEC complaint said that Ramani is currently believed to be in India.
Ramani and Ishan Wahi attended the University of Texas, Austin, together and remain close friends.
Prosecutors said that the defendants made illegal trades in at least 25 different crypto assets and realised ill-gotten gains totalling approximately $1.5 million.
The charges "are a further reminder that Web3 is not a law-free zone. Just last month, I announced the first-ever insider trading case involving NFTs, and today I announce the first-ever insider trading case involving cryptocurrency markets," explained Damian Williams.
"Our message with these charges is clear: fraud is a fraud, whether it occurs on the blockchain or on Wall Street. And the Southern District of New York will continue to be relentless in bringing fraudsters to justice, wherever we may find them,” he added.
Ishan Wahi is charged with two counts of wire fraud conspiracy and two counts of wire fraud, while Nikhil Wahi and Ramani are charged with one count of wire fraud conspiracy and one count of wire fraud. Each count carries a maximum sentence of 20 years.
ALSO READ:
Trump International Dubai was named Best Par 3 Course at the 11th annual World Golf Awards while Yas Acres Abu Dhabi was voted World’s Best Nine Hole Course
sports4 hours ago
This travel-related case was associated with an ongoing outbreak of clade I mpox in central and eastern Africa, said the Public Health Agency of Canada
world4 hours ago
The jury also determined that Samsung's infringement was wilful, which could lead to a judge increasing the award by up to three times
tech4 hours ago
In October, she accused Marcos of incompetence and said she had imagined cutting the president's head off
asia4 hours ago
President Subianto's aircraft was met by a ceremonial escort of military jets upon entering UAE airspace
uae4 hours ago
The event encouraged participants to engage in physical fitness and social interaction
uae4 hours ago
These diverse exhibitions promise to provide meaningful insights into the country's rich cultural heritage, offering something for visitors to enjoy
uae5 hours ago
The Dubai-born golfer will next compete for a coveted PGA Tour card at next month's Final Stage in Florida
sports5 hours ago