Nishad Singh is the former director of engineering at FTX and a member of SBF’s inner circle.
Former FTX executive Nishad Singh has agreed to plead guilty to six U.S. criminal charges brought against him in the case against the collapsed exchange, Reuters reported on Feb. 28.
The charges include one count of wire fraud, three counts of conspiracy to commit wire fraud, one count of conspiracy to commit money laundering and one count of conspiracy to defraud the United States by violating campaign finance laws.
Singh, the exchange’s former director of engineering, modified parts of the code that allowed Alameda Research to continue unfettered lending without being liquidated.
Reuters said it saw a comment Singh wrote in the platform’s code that read:
“Be extra careful not to liquidate.”
According to the SEC, the code changes allegedly conducted by Singer provided Alameda with a “virtually unlimited line of credit” at the collapsed exchange, and the billions of dollars it borrowed were mostly customer funds.
Singh was also involved in the Sam Bankman-Friend straw donor scheme, which used company funds to make illegal campaign contributions to influence policymakers.
Singh donated to one of the PACs named in the recent indictment against SBF, according to Open Secrets records.
SBF faces 12 different counts of wire fraud, money laundering and illegal campaign contributions and is set to go to trial later this year. He continues to plead not guilty to all charges.
Meanwhile, several former FTX executives have agreed to plead guilty and cooperate with law enforcement — including Gary Wang and Caroline Ellison from SBF’s inner circle.
Ellison pleaded guilty to seven charges, while Wang pleaded guilty to four.
Several other former executives are considering cooperating with prosecutors and have hired lawyers to discuss the matter, Reuters reported.
Additionally, the report states that FTX attorney Daniel Friedberg is also cooperating with prosecutors and is not currently facing any criminal charges.