Prosecutor Implores Judge to Consider Nishad Singh’s Assistance and Cooperation in FTX Investigation

Government prosecutors requested that the judge be more lenient in sentencing former FTX exec Nishad Singh. The prosecutors implored the judge to consider Singh's assistance and cooperation during the investigations into FTX.

Nishad Singh pleaded guilty to fraud and conspiracy to commit fraud, among other charges, and will receive his final sentencing later this month.

Singh's Substantial Assistance Helped in Solving the FTX Case

Prosecutors in charge of the case against former FTX exec Nishad Singh requested a lenient sentencing, citing his cooperation during investigations.

In a recent filing, the government lawyers commended Singh for his willingness to help during the investigations. His assistance, to a large extent, helped uncover Sam Bankman-Fried and FTX's financial misconduct.

The prosecutors also praised him for showing remorse for his crimes and asked the judge to consider those when deciding his sentence.

Nishad Singh, FTX's former head of engineering, pleaded guilty to six charges, including conspiracy to commit wire fraud and fraud, in February 2023.

Also, Singh's attorneys have reportedly requested leniency from the court, highlighting his limited role in the FTX misconduct. The defense team noted that Sign only joined the crypto exchange not long before its financial crunch in November 2022.

They also argued that Singh has remorse for his actions and willingly cooperated with the authorities to expose FTX's fund misappropriation.

According to the document, Singh assisted the authorities in understanding how FTX's code allowed it to use customer funds without authorization. Singh also uncovered details of transactions involving Bankman-fried's use of the stolen funds.

Additionally, he uncovered information about Ryan Salame and Bankman-Fried's involvement in one of the largest campaign finance schemes.

Through his technical assistance, the authorities could see how the former FTX CEO manipulated financial records to make the exchange's revenue appear more significant than it was.

The government attorney said the government may not have found out about most of these details without Singh's assistance.

Line-Up of FTX Conspirators

Sing is awaiting sentencing alongside Gary Wang, the former FTX chief technology officer. Singh's sentencing is expected to be held on October 30, while Wang's comes up on November 20.

Meanwhile, in March this year, ex-CEO of FTX Sam Bankman-Fried was found guilty of multiple charges, including wire fraud and conspiracy to commit fraud. He received a 25-year sentence.

Similarly, last month, Caroline Ellison, the former CEO of FTX's sister company, Alameda Research, was sentenced to 2 years after she pleaded guilty to fraud and conspiracy to commit fraud.

On the other hand, Ryan Salame, former FTX Digital Market CEO, commenced his 7.5-year jail sentence earlier this month. He pleaded guilty to operating an unregistered money-transmitting firm and illegal campaign finance (conspiracy to defraud the election commission).

The post Prosecutor Implores Judge to Consider Nishad Singh's Assistance and Cooperation in FTX Investigation appeared first on Techreport.