The former Coinbase product manager, Ishan Wahi, and his brother Nikhil Wahi are the subjects of a significant insider trading case that the Securities and Exchange Commission (SEC) is on the verge of settling.
According to a joint court filing submitted on Monday, the SEC has reached an “agreement in principle” with Ishan Wahi to resolve all of its claims against him.
The SEC and Nikhil Wahi are also in “good faith discussions” that could resolve the SEC’s claims against him.
Ishan Wahi had initially attempted to dismiss the SEC’s civil charges but pleaded guilty in February to wire fraud-related charges brought by the Justice Department.
Both parties, as well as the defendants, want to push back the April 6 deadline to finalize the settlement until the summer. This will necessitate the approval of the SEC’s politically-appointed chair, Gary Gensler, as well as the commission’s four other commissioners.
