Delphi Digital ex-finance VP gets 4 years for $4.5M embezzlement

Dylan Meissner, the former vice president of finance at Delphi Digital, has been sentenced to four years in prison for embezzling nearly $4.5 million from the crypto research firm.

The sentencing took place on December 17, 2023, with Connecticut District Court Judge Michael P. Shea issuing the ruling.

In addition to the prison sentence, Meissner has been ordered to repay over $4.6 million, which includes both the embezzled funds and an outstanding loan.

Meissner worked at Delphi Digital between October 2021 and November 2022.

During this time, he had access to the company’s crypto wallets and bank accounts.

In January 2022, Delphi Digital had provided Meissner with a loan of 50 Ether, valued at approximately $170,000, to assist him with personal investment losses.

However, Meissner failed to repay the loan and proceeded to steal approximately $4.46 million.

He covered up his actions by falsifying financial records within the company.

As part of a plea agreement, Meissner pleaded guilty to wire fraud in July 2023, and then was released on a $100,000 bond and will report to prison on February 21, 2025.

Prosecutors had initially recommended a sentence of 6.5 to 8 years, while Meissner’s defense suggested a 4 to 5-year term.

Meissner’s sentencing memo mentioned his struggles with substance abuse and his ongoing efforts to maintain sobriety.

The memo also noted that he cooperated with the company by creating a spreadsheet detailing the financial damage.

However, prosecutors argued that the crime was not a momentary lapse in judgment but a deliberate scheme.

They pointed out that Meissner intended to use the stolen funds to recover personal losses and planned to return the money once the market improved.