Former Fabric Chief Financial Officer Nevin Shetty. Photo Courtesy: Fabric
A federal indictment in the Seattle high-tech ranks. .
Nevin Shetty, the former Chief Financial Officer at e-commerce company Fabric, is facing wire fraud charges for allegedly transferring $35M to a personal business account.
The complaint alleges Shetty made the transfer to his crypto side-business in April of last year; one month after being told he was going to be fired.
As the crypto market crashed, the value of that money was dropped to almost nothing 6 weeks later.
The 39-year-old man will be arraigned next week in federal court in Seattle.
For more information listen to the attached news report.
