Roughly 11 days ago, it was reported that Nishad Singh, former engineering director at FTX, was working with federal prosecutors to arrange a plea deal. On Tuesday, Singh pleaded guilty to criminal charges and said, “I am incredibly sorry for my role in all of this.”
Singh is cooperating with authorities in the FTX investigation; Bankman-Fried declined to comment on Singh’s guilty plea.
According to reports, former FTX engineering director Nishad Singh has pleaded guilty to wire fraud, conspiracy to commit fraud, money laundering, and violating campaign finance laws in the United States.
“I am incredibly sorry for my role in bringing this about,” Singh said Tuesday in a New York courtroom. At the hearing, Danielle Sassoon, Singh’s prosecutor, explained that Singh had returned from the Bahamas to assist the U.S. investigation after the collapse of the FTX.
Singh said he knew around mid-2022 that Alameda Research was using client funds and also vowed to forfeit any proceeds from the scheme. Reuters first reported the news, and in response to Singh’s defense, the publication contacted Sam Bankman-Fried (SBF) for comment.
According to the report, a spokesperson for Bankman-Fried declined to comment. Singh’s plea comes after former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty. Ellison also provided a detailed account admitting to using client funds in the FTX/Alameda scheme. Bankman-Fried faces 12 charges, including bank fraud, with four new charges added to the original indictment.
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