According to Decrypt, former CFO of a software company in Washington State, Nevin Shetty, has been sentenced to 2 years in prison for misappropriating company funds to invest in a crypto DeFi project. Prosecutors stated that in 2022, he secretly transferred approximately $35 million of company funds to his DeFi platform, HighTower Treasury, and invested in high-yield DeFi lending protocols (with an annual return of about 20%). The subsequent Terra collapse caused the value of the investment to drop to nearly zero, resulting in significant losses for the company and layoffs of around 60 employees. The court also ordered him to pay approximately $35 million in restitution and undergo 3 years of supervision after release, during which he is prohibited from serving as an executive or director without approval. https://(x.com)/DecryptMedia/status/2030025970388754477