“Former FTX Technical Director Pleads Guilty to Criminal Charges and Agrees to Cooperate with Authorities”
Nishad Singh, an ex-technical director of the bankrupt cryptocurrency exchange FTX, has officially pleaded guilty to fraud, conspiracy to commit fraud, and conspiracy to commit money laundering.
He admitted to being aware that Alameda was borrowing funds from FTX customers without their knowledge in mid-2022. Singh’s lawyers stated that he wants to make things right for the victims and cooperate with the investigation.
The US Securities and Exchange Commission (SEC) and the US Commodity Futures Trading Commission (CFTC) also filed fraud charges against him.
Singh’s agreement to cooperate with authorities could further isolate FTX founder Sam Bankman-Fried, who has not pleaded guilty to eight counts of indictment accusing him of laundering clients’ funds through political and charitable donations.
Earlier, Alameda Research director Caroline Ellison and FTX co-founder Gary Wang had also pleaded guilty to fraud and cooperated with authorities. The prosecutors have warned those from whom they have not yet received a response to come forward.