Former Delphi VP Gets 4 Years for $4.5M Crypto Embezzlement

Dylan Meissner, a former vice president of finance at Delphi Digital, now faces prison time. He has been sentenced to four years for embezzling nearly $4.5 million from the crypto research firm. Connecticut District Judge Michael P. Shea issued the ruling on December 17. 

How the Embezzlement Unfolded

Meissner’s scheme began in January 2022, shortly after receiving a 50 ETH loan from Delphi Digital. The loan, worth $170,000 at the time, was intended to cover personal crypto losses. 

Instead of repayment, Meissner misappropriated additional company funds, eventually stealing $4.46 million. He falsified financial records to hide the missing money, ensuring the theft went unnoticed for months.

Although court documents referred to Delphi Digital as “Company A,” Meissner’s lawyer later identified the firm. Meissner admitted guilt in July 2023 as part of a plea deal. He was released on a $100,000 bond but faced calls for a harsher sentence.

Prosecutors sought a 78-97 month prison term, highlighting the calculated nature of the crime. Meissner claimed he intended to return the money after recovering personal losses. 

The Sentence and Lessons Learned

Meissner’s punishment includes four years in prison, over $4.6 million in restitution, and two years of supervised release. He is required to report to prison by February 21, 2025, and has waived the right to appeal. 

His defense team argued for leniency, citing struggles with substance abuse and efforts toward sobriety. They also pointed to Meissner’s cooperation, including a detailed spreadsheet outlining the stolen funds.

Judge Shea’s decision reflected a balance between punishment and rehabilitation. The sentence fell short of the harsher penalties sought by prosecutors.