351–360 of 446 posts
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How did they manage to intercept him at the airport? Are there lists for suspected criminals?
often the feds will surveil someone for a long time and just wait until they try to leave the country . it makes it much easier than trying to do the arrest elsewhere. it's all electronic . You buy a ticket, show your ID/passposrt, and your info will go out.
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During which conversation a fairly large number of HN commenters thought that crypto insider trading wasn't illegal: https://news.ycombinator.com/item?id=31012837
If you read the actual SEC filing, you'll note that they're only filing for 7 of the alleged 25 coins that he traded. [1] Even the SEC agrees that this was not insider trading in all 25 instances. "Throughout the relevant period, Nikhil and Ramani repeatedly traded ahead of Coinbase listing announcements, trading in at least 25 tokens. At least seven of the listing announcements described above involved crypto asset…
Wow, the indictment references [this tweet][1] that caused Coinbase to investigate the matter and ultimately led the defendant in being caught at the airport before trying to leave the country. > On May 11, 2022, Coinbase’s director of security operations emailed ISHAN WAHI to inform him that he should appear for an in-person meeting relating to Coinbase’s asset listing process at Coinbase’s Seattle, Washington offic…
It's amazing how they already had tabs on this guy and just waited for him to leave but without arresting him sooner if you think you broke the law and want to avoid arrest, stay away from the airport. anyone who buys a ticket they get your full info and then the arrest is as easy as picking you up at the gate, nowhere to hide.
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often the feds will surveil someone for a long time and just wait until they try to leave the country . it makes it much easier than trying to do the arrest elsewhere. it's all electronic . You buy a ticket, show your ID/passposrt, and your info will go out.
Couldn’t he have sent a canary to the boarding gate?
This is an interesting side effect of our remote workplace culture. It used to be that if you committed a crime physically in the workplace, I presume it would not be an interstate crime. However, now you likely are required to work with people all over the place so the laws are all escalated (as i understand it typically interstate law is more punishing).
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For some nuance, though, partly this has to do with lack of SEC enforcement on crypto as a security. My opinion then would have been that this should be insider trading, crypto should be classified as a security, and also that I wasn’t sure the SEC would classify this as insider trading. Since the definition of insider trading is kind of, “whatever the SEC enforces”, it’s possible to believe that this is a security t…
> the definition of insider trading is kind of, “whatever the SEC enforces” Insider trading is a crime. The SEC cannot bring criminal complaints. Every insider trader who has gone to jail was prosecuted by the DoJ.
FBI: https://www.fbi.gov/news/stories/insider-trading
Only talk about securities. It seems to me as if it would depend a lot on if the digital asset(s) in question count as securities or not.
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He could've taken out cash from his local bank account, turned off his phone, driven to San Ysidro and walked through the public turnstile into Tijuana. And then tried to get a flight from Mexico City to somewhere in south asia. Would have been much better than going through the US/Canada border which has a full data sharing agreement between CBSA and US CBP/ICE. (note: this is a stupid, humorous theoretical, not rea…
Isn't the whole point of crypto that you don't need to get your cash out of a bank account that the government can monitor and potentially lockdown?
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Is there a list of all 25 somewhere? This could provide some illumination on what SEC does and does not consider a security.
Or maybe the SEC considers all of them securities but thought that they had the strongest case for these seven and didn't want the distraction of arguing about the other 18. But yeah, would be interesting to see the list.
(As opposed to an illegal commodities exchange for bitcoin.)
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If you read the actual SEC filing, you'll note that they're only filing for 7 of the alleged 25 coins that he traded. [1] Even the SEC agrees that this was not insider trading in all 25 instances. "Throughout the relevant period, Nikhil and Ramani repeatedly traded ahead of Coinbase listing announcements, trading in at least 25 tokens. At least seven of the listing announcements described above involved crypto asset…
No. Suspects are often arrested on a subset of the criminal charges with which they will ultimately be indicted. Even in more serious crimes like mass shootings, prosecutors will press charges on only a few of the homicide counts at first. This is common practice for prosecutors.
Am I reading the indictment correctly that they are actually being charged with defrauding Coinbase, and that they are not being directly charged with insider trading?
NIKHIL WAHI, 26, of Seattle, Washington, is charged with one count of wire fraud conspiracy and one count of wire fraud, each of which carries a maximum sentence of 20 years.
SAMEER RAMANI, 33, of Houston, Texas, is charged with one count of wire fraud conspiracy and one count of wire fraud, each of which carries a maximum sentence of 20 years."
Yeah from what I understand it seems like the charge comes from defrauding Coinbase