9 sources·Business

Nishad Singh Sentenced After Cooperation with FTX Investigation

Former FTX executive Nishad Singh avoids prison with time served for assisting in the investigation of fraudulent activities at the cryptocurrency exchange.

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Updated: Oct 31st, 2024, 12:14 AM ET

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Nishad Singh, former engineering director of FTX, was sentenced to time served and three years of supervised release, avoiding a potential 75-year prison term due to his substantial cooperation with prosecutors in the FTX investigation. His assistance was credited as remarkable by Judge Lewis Kaplan, who noted Singh's limited involvement in the fraud. Singh pleaded guilty to multiple charges, including conspiracy to commit securities fraud and money laundering. He faces an $11 billion forfeiture order and expressed remorse, reflecting on his actions and the fraud's impact leading to FTX's bankruptcy in 2022.

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