{"id":300613,"date":"2023-02-17T22:04:48","date_gmt":"2023-02-17T22:04:48","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=300613"},"modified":"2023-07-30T02:29:48","modified_gmt":"2023-07-30T01:29:48","slug":"ftxs-nishad-singh-reportedly-approaches-plea-deal","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/ftxs-nishad-singh-reportedly-approaches-plea-deal\/","title":{"rendered":"FTX’s Nishad Singh reportedly approaches plea deal"},"content":{"rendered":"

A former top employee of FTX is preparing to reach a plea deal with U.S. prosecutors, Bloomberg News reported Feb. 17.<\/p>\n

The publication reported that Nishad Singh, who served as FTX's director of engineering, plans to plead guilty as Manhattan prosecutors prepare to file charges.<\/p>\n

Based on previous developments, the U.S. Attorney's Office for the Southern District of New York is responsible for the investigation. The CFTC and SEC reportedly plan to file charges as well.<\/p>\n

Similar reports from Bloomberg on Jan. 10 suggested that Singh had discussed a cooperation deal that was likely to lead to a plea deal. Singh was supposedly not accused of wrongdoing at the time, whereas he is now said to face charges.<\/p>\n

None of the above agencies have publicly confirmed Bloomberg's statements. However, reports from the same source suggest that authorities have been investigating Singh since at least Jan. 5<\/a>. Singh played a key role in developing software that was used to transfer funds between FTX and Alameda. He also was involved in campaign financing.<\/p>\n

Information about those and other activities could provide assistance in the criminal case against Sam Bankman-Fried, the co-founder and former CEO of FTX.<\/p>\n

If Singh reaches a plea deal, he will be the third FTX associate to do so after former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang. Both individuals pled guilty in December<\/a> and are cooperating against Bankman-Fried, who awaits trial.<\/p>\n","protected":false},"excerpt":{"rendered":"

A former top employee of FTX is preparing to reach a plea deal with U.S. prosecutors, Bloomberg News reported Feb. 17. The publication reported that Nishad Singh, who served as FTX’s director of engineering, plans to plead guilty as Manhattan prosecutors prepare to file charges. 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