Delphi Digital says justice served after ex-VP who stole $4.5m gets four years in jail

Dylan Meissner, the erstwhile vice president of concern astatine crypto probe steadfast Delphi Digital, was sentenced to 4 years successful situation connected Wednesday for embezzlement, according to the Department of Justice.

A Connecticut justice ordered Meissner to wage $4.6 cardinal to Delphi Digital and said his condemnation volition beryllium followed by 2 years of supervised release.

The restitution magnitude included the wealth helium stole and an unpaid loan.

Anil Lulla, co-founder and CEO of Delphi Digital, confirmed to DL News that Meissner had stolen from his institution and “generally abused our spot successful him arsenic a person and squad member.”

In January 2022, Delphi Digital loaned Meissner 50 Ether, worthy present astir $192,000.

Meissner said helium intended to usage the cryptocurrency to debar a important nonaccomplishment helium personally incurred done unlucky cryptocurrency investments, according to his plea agreement.

He ne'er repaid the loan, and helium proceeded to siphon astir $4.5 cardinal much successful further funds from Delphi, the judgement said.

To screen up his tracks, Meissner created mendacious entries successful Delphi Digital’s accounting records and adjacent diverted wealth intended arsenic bonuses for the company’s analysts, work his plea.

In November 2022, Meissner was fired, and successful July 2024, helium pleaded blameworthy to fraud.

‘Company A’

In the Department of Justice’s tribunal submissions and property releases regarding Dylan Meissner, Delphi Digital was referred to arsenic a “cryptocurrency probe firm” named “Company A.”

However, successful Meissner’s sentencing submission, his lawyer repeatedly said the institution from which Meissner stole was “Delphi.”

“We discovered his crimes connected the week of the FTX illness (tough week), instantly terminated his employment, and reported him to the authorities,” Lulla said implicit Telegram.

Meissner did not instantly respond to requests for comment.

His lawyer, Roger Stavis, declined to comment.

“We privation to widen a large convey you to our squad who rallied astir our communal ngo and helped america forge forward,” Lulla said. “We’re pleased to spot justness yet being served.”

Crypto criminals

This isn’t the archetypal clip an worker of a crypto institution has utilized his oregon her presumption to illicitly profit.

Nate Chastain, a erstwhile worker astatine the NFT marketplace OpenSea, was sentenced to 3 months successful situation successful what the DOJ proclaimed was the archetypal ever lawsuit of NFT insider trading.

And Ishan Wahi, a erstwhile worker astatine Coinbase, was sentenced to 2 years down bars for tipping disconnected his member and person to aboriginal cryptocurrency listings.

Ben Weiss is DL News’ Dubai Correspondent and Liam Kelly is simply a Berlin-based newsman for DL News. Email them astatine [email protected] and [email protected].