The government prosecutors have praised former FTX executive Nishad Singh for his “substantial assistance” and “exemplary cooperation” in the investigations into FTX. Singh, who will be sentenced later this month, approached his cooperation with “earnest remorse and eagerness to assist,” according to a document submitted by prosecutors on Oct. 23.
During the investigations, Singh helped the government understand how FTX’s code allowed for the illegal use of customers’ funds. He also provided detailed information on transactions by FTX’s founder, Sam Bankman-Fried, that involved stolen money. Additionally, Singh brought to light criminal conduct that the government was not previously aware of, including a large campaign finance scheme involving Bankman-Fried and Ryan Salame, as well as instances of financial manipulation to inflate FTX’s revenue.
Singh, the former head of engineering at FTX, pleaded guilty to six criminal charges in February 2023 related to the collapse of FTX the previous November. In a sentencing submission filed on Oct. 16, Singh’s lawyers described him as an “uncommonly selfless individual” and requested that he be spared prison time. They emphasized his limited role at FTX and detailed his cooperation with authorities.
Both Singh and FTX’s former chief technology officer, Gary Wang, are currently awaiting sentencing. Bankman-Fried, the founder of FTX, was sentenced to 25 years in prison in March on seven fraud and conspiracy charges. Caroline Ellison, the former CEO of Alameda Research, received a two-year sentence last month after pleading guilty to the same charges as Bankman-Fried.
Ryan Salame, the CEO of FTX Digital Markets, recently began serving a 7.5-year prison sentence after pleading guilty to charges of operating an unlicensed money transmitter and conspiring to defraud the Federal Election Commission. The fallout from the collapse of FTX continues to unfold as more individuals involved in the scandal face legal consequences.