A former chief financial officer from Mercer Island has been convicted on multiple charges of wire fraud for misappropriating $35 million from his previous employer, as per the U.S. Attorney’s Office’s announcement on Thursday. Nevin Shetty, the 41-year-old accused, faced a nine-day jury trial which concluded in his conviction on November 7, after jurors deliberated for about ten hours, according to the U.S. Attorney’s Office.
The trial revealed that Shetty, who was employed as a CFO of an unnamed private software company since March 2021, had drafted an investment policy for the company’s funds which was meant to ensure their safekeeping through conservative investments. Despite his hand in creating this policy, Shetty clandestinely funneled roughly $35 million into HighTower Treasury, a cryptocurrency platform he controlled, as delineated by court records. His role in the company ended in March 2022, when the company ousted him due to performance-related concerns, as reported by the U.S. Attorney’s Office.
Assistant U.S. Attorneys Philip Kopczynski and Grace Zoller led the prosecution, unspooling the details of how Shetty had shifted the funds between April 1 and 12, 2022, without the knowledge of any other executives or board members at the company. The money was then invested in high-risk decentralized finance or “DeFi” lending protocols, aiming to profit from substantial interest rates. This gamble initially appeared to pay off, generating $133,000 in profits for Shetty and his business partner within the first month. However, as presented at trial, the value of these cryptocurrency investments sharply declined, and by May 13, 2022, their worth had almost entirely dissipated. When confronted by the gravity of the lost, Shetty disclosed his actions to fellow executives, leading to his immediate termination and subsequent federal investigation, culminating in this trial, as obtained by the U.S. Attorney’s Office.
Addressing the jury, Assistant U.S. Attorney Philip Kopczynski emphasized the motives behind Shetty’s scheme, as reported by the U.S. Attorney’s Office, stating, “Why did he do this? Greed – to line his own pockets. That is what explains his lying, sneaking around, and telling half-truths.” Shetty now faces a maximum of 20 years in prison for wire fraud, with his sentencing set for February 11, 2026, by Judge Tana Lin.
Crime & Emergencies in …
About 6 hours ago
Former Mercer Island CFO Nevin Shetty Convicted of $35 Million Wire Fraud in Cryptocurrency Scheme
About 13 hours ago
Bellevue City Council Allocates $600,000 to Support Immigrants and Address Food Insecurity
About 15 hours ago
Kirkland Police Respond to Spike in Scams, Residents Lose Thousands to Fraudulent Schemes
Nov 07, 2025
Bellevue Invests $235,000 to Address Rising Food Insecurity Amid Federal Funding Cuts
Hoodline – In-depth reporting about your home area.
Follow Us
Connect
But wait, there’s more…
Cities
Former Mercer Island CFO Nevin Shetty Convicted of $35 Million Wire Fraud in Cryptocurrency Scheme – Hoodline
