Mercer Island’s Nevin Shetty was convicted on four counts of wire fraud on Nov. 7 at U.S. District Court of Seattle, according to court documents.

On the trial’s ninth day, the jury returned with a unanimous guilty verdict after a nearly 10-hour deliberation.

Documents noted that he remains on bond pending sentencing, which is set for Feb. 11, 2026 at 1:30 p.m. in Courtroom 14206 before Judge Tana Lin. Wire fraud is punishable by up to 20 years in prison, according to a United States Department of Justice press release.

The four counts regard wire transfers of $15,100,000; $14,500,000; $5,400,000; and $100 — all in April of 2022.

In May of 2023, Shetty, then 39, pleaded not guilty to alleged embezzlement activities. He was indicted in U.S. District Court in Seattle for secretly transferring $35 million from his company’s account to invest in his own cryptocurrency operation.

His trial stemmed from an FBI investigation in 2022 and resulted in charges of wire fraud and misusing funds.

Shetty filed several motions relating to the case, including one to suppress evidence and others to dismiss the indictment and continue the trial date.

In the suppression realm, Shetty zeroed in on a government search warrant’s affidavit and noted that it is based on false and misleading facts in the wire fraud investigation. The court denied the motion.

When the government filed a motion to exclude expert witness testimony ahead of the trial, Shetty countered that the court “should deny the government’s motion or defer it until trial” because the two primary topics — cryptocurrency and corporate law — to be discussed are major themes of his defense.

Assistant United States Attorney Philip Kopczynski addressed the jury regarding Shetty in his closing arguments, according to a press release: “Why did he do this? Greed — to line his own pockets. That is what explains his lying, sneaking around, and telling half-truths.”

U.S. Attorney Neil Floyd noted in the release: “This defendant exploited his position of power and trust in an attempt to profit from his crime and then lied to cover it up. I am proud of the work of our attorneys and support staff, who calmly and carefully helped the jury see through film of lies the defense used to try to justify what was, at its core, theft.”