Software CFO sentenced for embezzling $35M for DeFi investments

A software company's chief financial officer (CFO) has been sentenced to two years in prison for embezzling $35 million in company funds and transferring the money to his personal cryptocurrency platform, Decrypt reported. Nevin Shetty invested the funds in high-yield decentralized finance (DeFi) lending protocols that promised returns of over 20%. He subsequently lost nearly all the money following the collapse of Terra and the ensuing crypto winter.