Sam Bankman-Fried’s director of engineering at FTX pleads guilty to six criminal charges
THE former Director of Engineering at collapsed crypto exchange FTX – Nishad Singh – has entered a guilty plea to a slew of criminal charges in the US.
Singh pleaded guilty to three counts of conspiracy to commit fraud, one count of conspiracy to commit money laundering, one count of wire fraud, and one count of conspiracy to defraud the United States by violating campaign finance laws.
The 27-year-old answered the charges on Tuesday and agreed to cooperate with prosecutors as they continue their investigation into the dealings of FTX founder Sam Bankman-Fried.
“I am unbelievably sorry for my role in all of this,” Singh said before admitting that he became aware of Bankman-Fried’s hedge fund Alameda Research borrowing FTX customer funds in mid-2022.
FTX founder Bankman-Fried denied any criminal wrongdoing after having eight criminal charges put to him in December.
The 30-year-old pleaded not guilty to all charges after prosecutors alleged he stole billions in customer funds to shore up out-of-control losses at Alameda.
The entrepreneur maintains he did not steal funds, but has acknowledge his risk management was ‘inadequate’ before being released on bail for $250,000,000.
Former Alameda chief executive Caroline Ellison and former FTX chief technology officer Gary Wang – both members of the FTX senior management team – pleaded guilty to fraud charges in December.