OpenSea supervisor accused of insider buying and selling sentenced to three months in jail, $50K effective

A federal choose has sentenced former OpenSea product supervisor Nathaniel Chastain to 3 months in jail for wire fraud and cash laundering associated to insider buying and selling on the platform.

In an Aug. 22 announcement from america Division of Justice, U.S. Lawyer Damian Williams mentioned Chastain had been sentenced to 3 months in jail, three months of residence confinement and three years of supervised launch along with being ordered to pay a $50,000 effective and forfeit ill-gotten Ether (ETH) from the nonfungible token (NFT) trades. Inside Metropolis Press reported he could be required to give up himself on Nov. 2, with Chastain’s legal professionals planning to attraction the choice and request bail.

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