Ex-Fabric CFO Nevin Shetty Indicted for Wire Fraud After Moving $35M to Crypto Business Amid Market Crash

Nevin Shetty, former CFO of Seattle-based startup Fabric, was indicted for wire fraud after allegedly transferring $35 million of company funds to his crypto business, HighTower. The crypto crash in May 2022 wiped out the value of the funds, leading to his upcoming arraignment on May 25.