Nishad Singh, who has pleaded guilty to six felony counts of fraud and conspiracy, testified as a prosecution witness in the trial that led to Sam Bankman-Fried’s conviction on fraud and other charges
Former cryptocurrency executive Nishad Singh is set to be sentenced on Wednesday for his role in his imprisoned former boss Sam Bankman-Fried’s theft of about $8-billion in customer funds from the now-bankrupt FTX exchange.
Bankman-Fried, 32, is serving a 25-year prison sentence at the Metropolitan Detention Center in Brooklyn stemming from the November 2022 collapse of the FTX exchange he founded. Kaplan last month sentenced Caroline Ellison, Bankman-Fried’s former girlfriend and an executive at FTX’s sister hedge fund Alameda Research, to two years in prison. The judge praised her co-operation, but said that such assistance could not be a “get out of jail free card” in a case as serious as this one.
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