News01 March 2023

Former FTX Top Manager Admits to Conspiracy to Commit Fraud


The case involving the bankrupt cryptocurrency exchange continues to gain momentum, this time with former Chief Technical Officer Nishad Singh admitting guilt to a number of charges.

Yesterday, Nishad pleaded guilty to six counts of charges. Among the charges are conspiracy to commit fraud, conspiracy to launder money, and conspiracy to violate federal campaign finance laws.

In short, he conspired so much that even Sam could get in trouble :D.

"I deeply regret my role in all of this," said Nishad, admitting that by mid-2022, he knew that Bankman-Fried's hedge fund, Alameda Research, was using FTX clients' funds without their knowledge."

27-year-old Singh played an important role in FTX's daily operations as the head of the engineering department. He first joined Alameda in 2017 and, two years later, founded FTX with Wang and Bankman-Fried.

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