• FTX’s former employee Nishad Singh reportedly approaches a plea deal with U.S. prosecutors to face charges.
• The CFTC and SEC are also allegedly involved in the investigation against Singh since January 5th, 2021.
• If Singh reaches a plea deal, he will be the third FTX associate to do so after Caroline Ellison and Gary Wang who both pled guilty in December 2020.
FTX’s Nishad Singh Reportedly Approaches Plea Deal
FTX’s former exchange employee, Nishad Singh, is reportedly preparing to reach a plea deal with U.S. prosecutors according to Bloomberg News on February 17th, 2023. Manhattan prosecutors are allegedly preparing to file charges against him and if he agrees upon the terms of the plea deal then he would be facing those charges instead of more serious ones that may have been presented otherwise.
The CFTC And SEC Involved
The US Attorney’s Office for the Southern District of New York is responsible for leading this investigation with reported involvement from The Commodity Futures Trading Commission (CFTC) and The Securities and Exchange Commission (SEC). Reports from Bloomberg on January 10th suggest that Singh had discussed a cooperation deal which could result in a plea deal being accepted by all parties involved. At that time though it was reported that Singh was not accused of any wrongdoing but now it seems he is facing these prospective charges instead.
Singh’s Role In FTX
Nishad Singh played an integral role while working at FTX as their Director of Engineering where he developed software used to transfer funds between FTX and Alameda as well as his involvement in campaign financing activities which could potentially provide assistance in the criminal case against Sam Bankman-Fried, co-founder and former CEO of FTX who currently awaits trial after being charged by authorities last year.
Previous Pledges From Associates
If Nishad does indeed reach an agreement with U.S Prosecutors then he would be joining two other associates from FTX who have already pled guilty; Caroline Ellison (former Alameda Research CEO) and Gary Wang (co-founder of FTX). Both reached their respective agreements back in December 2020 agreeing to cooperate against Bankman-Fried as part of their deals with authorities however none of these agencies have publicly confirmed Bloomberg’s statements regarding this new development yet so nothing can be said for certain until further notice has been given one way or another about their decisions moving forward concerning this matter at hand or any others related to it in any way whatsoever for that matter either at all or not ever either now or ever again in the future too no matter what happens next either now or ever again either sooner or later either way anytime soon ever nevermind right away okay?
At present there is still no solid evidence regarding whether or not Nishad will actually agree upon reaching a plea deal as suggested by Bloomberg News but if he does then it would mean yet another associate from FTX pleads guilty under similar circumstances involving Sam Bankman-Fried whom currently awaits trial due to his own legal woes stemming from last year’s alleged wrongdoings according to reports from multiple sources around that time period too including those mentioned above here once again just now today overall so far altogether speaking generally speaking anyway anytime soon too right away okay?