Former FTX engineering director Nishad Singh admitted to fraud charges

2023-03-01 07:57:32

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ChainCatcher news, FTX's former engineering director Nishad Singh pleaded guilty to six charges, including conspiracy to commit money laundering and wire fraud, in Manhattan court on February 28, 2023.

If convicted, Nishad Singh could face up to 75 years in prison, with a maximum of 30 years for wire fraud. The severity of the sentence will depend on factors such as the amount of loss and the number of victims, and he could face an additional 40 years for the conspiracy charges related to money laundering and wire fraud.

It is reported that Nishad Singh is the third member of SBF's core circle at FTX to plead guilty and cooperate with prosecutors, following FTX co-founder Gary Wang and former Alameda Research CEO Caroline Ellison. (source link)

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