CoinWorld reports that Nevin Shetty, a 42-year-old man from Washington State, USA, secretly transferred $35 million of company funds into his own DeFi platform HighTower Treasury while serving as CFO of a private software company. He invested in high-yield lending protocols, but the funds were nearly wiped out following the Terra collapse in May 2022. The incident led to 60 layoffs at the company and almost caused it to go bankrupt. Shetty was convicted on four counts of telecommunications fraud, sentenced to two years in prison, ordered to pay $35 million in restitution, and will be under three years of supervision after release. He is also prohibited from holding any executive position in any company without approval.