The former technical director of bankrupt crypto exchange FTX, Nishad Singh, has reportedly pleaded guilty to six U.S. criminal charges, including wire fraud, conspiracy, and money laundering.
As Reuters reported on Feb.28:
Singh pleaded guilty in court to six U.S. criminal charges, including one count of wire fraud, three counts of conspiracy to commit fraud, one count of conspiracy to commit money laundering and one count of conspiracy to defraud the United States.
We also learn from the report that Nishad Singh says he knew as early as mid-2022 that Alameda was borrowing funds from FTX customers, and he’s terribly sorry that he was involved.
Singh’s lawyers, Andrew Goldstein and Russell Capone said in a statement:
He wants to do everything he can to make things right for victims, including by assisting the government to the best of his ability.
Nishad is the third person from Sam Bankman-Fried’s inner circle who pleaded guilty. The other FTX-Alameda directors who did so are Caroline Ellison and Gary Wang.
Related: SBF inner circle pleads guilty
In contrast to other FTX executives who maintained a public presence, Singh was absent from public view for a significant period. However, he resurfaced in early January to attend a proffer session at the United States Attorney’s office in the Southern District of New York. In such sessions, individuals providing information may receive partial protection to disclose their insights to the prosecutors.
Meanwhile, FTX’s ex-CEO, Sam Bankman-Fried, has pleaded not guilty to all eight criminal charges. Last week, additional charges were filed against Sam, bringing the total to 12. According to the recent charges, Bankman-Fried collaborated with two other ex-FTX executives to donate tens of millions of dollars in an attempt to influence lawmakers to pass legislation that would benefit the company.
Related: SBF hit with more charges
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