Former FTX Engineering Director Nishad Singh Avoids Jail Time for Role in Multi-Billion Dollar Fraud Case
Nishad Singh, the former engineering director of FTX, has been exempted from jail by Judge Lewis A. Kaplan of the New York federal court for his role in the multi-billion dollar fraud case involving the crypto exchange FTX. Singh’s testimony played a crucial role in convicting Sam Bankman-Fried (SBF), the mastermind behind the fraud case and the founder of FTX.
Singh’s lawyers successfully argued that he was not part of the conspiracy at the heart of the case, unlike Gary Wang and Caroline Ellison. Singh only became aware of Alameda Research’s misappropriation of billions of dollars in client funds in September 2022, two months before FTX’s collapse. Judge Kaplan acknowledged the distinction, stating, “Your situation is different from Caroline Ellison’s situation in that she has known for years what was going on. She has received a lot of recognition for her cooperation, but you deserve it more.”
As part of the agreement, Singh will forfeit his properties in Washington state, shares in Anthropic PBC, and other crypto assets. FTX co-founder Gary Wang, the last of the US government’s key cooperating witnesses, is set to be sentenced on November 20.
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