Overview
- U.S. District Judge Tana Lin handed down the sentence in Seattle after a November 2025 jury conviction on four counts of wire fraud.
- The court ordered $35,000,100 in restitution, three years of supervised release, and a bar on serving as a corporate officer or director without probation approval.
- Prosecutors said Nevin Shetty moved $35 million between April 1 and April 12, 2022, into accounts for his side venture HighTower Treasury and placed the funds in high-yield DeFi lending protocols.
- The investments cratered to near zero during the May 2022 crypto downturn tied to the Terra collapse.
- Prosecutors sought nine years, and the judge described severe harm to Fabric, including a major restructuring and roughly 60 layoffs.