Odaily Planet Daily News: Judge Lewis A. Kaplan of the New York Federal Court ruled that former FTX chief engineer Nishad Singh will not serve time in prison. Singh's testimony helped authorities convict FTX founder SBF, who was sentenced to 25 years in prison. Before his sentencing, Singh told the judge: "I feel immense regret for my involvement in the events and the harm caused to so many innocent people. The two months before and after FTX's collapse were the most difficult times in my life." Before leaving the courtroom, Kaplan addressed Singh's parents in a 'private' capacity, stating: "I don't think you did anything wrong." Singh's ruling is the most lenient sentence given to former FTX executives who admitted their crimes after the collapse of FTX. Alameda Research CEO Caroline Ellison was sentenced to two years in prison in September. Former FTX digital markets CEO Ryan Salame was sentenced to seven and a half years for his involvement in campaign finance issues, and he did not testify. FTX co-founder Gary Wang is set to be sentenced on November 20, being the last key cooperating witness for the government. Singh's attorney attempted to distinguish him from Wang and Ellison, arguing that he was not part of the core conspiracy of the case. Singh first learned in September 2022 (two months before the collapse of FTX) that the sister hedge fund Alameda Research had been withdrawing billions of dollars in customer funds. The judge agreed with this point. (Bloomberg) Previously, prosecutors handling the case against former FTX executive Nishad Singh requested the sentencing judge to consider Singh's 'significant assistance' and 'exemplary cooperation' in the government's investigation of FTX. In a document submitted on October 23, prosecutors stated that Singh 'showed genuine remorse and a desire to help.' Singh assisted the government in understanding how FTX's code allowed for the illegal use of customer funds and detailed the transactions made by Sam Bankman-Fried using the proceeds of crime.

#SBF