Nishad Singh Sentenced in FTX Fraud Case

Nishad Singh, former director of engineering at FTX, has been sentenced to time served and three years of supervised release for his involvement in the misappropriation of approximately $8 billion in customer funds. Singh, who cooperated extensively with prosecutors during the investigation and trial of former CEO Sam Bankman-Fried, pleaded guilty to six felony counts, including fraud and conspiracy. Judge Lewis Kaplan acknowledged Singh's limited role compared to others involved, stating his cooperation was significant but did not absolve him from accountability for one of the largest financial frauds in U.S. history. Singh expressed remorse for his actions, while prosecutors highlighted his assistance in recovering assets for victims and in the prosecution of Bankman-Fried and others. His sentencing follows those of other FTX executives, including Bankman-Fried, who received 25 years in prison, and Caroline Ellison, who was sentenced to two years. The case against Singh illustrates the ongoing repercussions of the FTX collapse as legal proceedings continue against remaining executives.