Former FTX engineering chief Nishad Singh has urged a Manhattan federal judge to spare him prison time for his role in the downfall of a cryptocurrency exchange platform.
On October 16, according to Bloomberg, Nishad Singh’s lawyers sent a memo to the judge saying that Singh played a limited role in FTX’s collapse and that the former FTX engineering chief deserves a lighter sentence for “the exemplary life he has devoted.” Submitted to . major”.
They argued that Singh’s cooperation with the investigation and his willingness to rebuild his life were sufficient grounds for pardoning him from prison. Singh is the fourth FTX executive to be accused of involvement in the cryptocurrency exchange collapse.
The dossier described Singh as an “unusually selfless individual” and included more than 100 letters from family, friends and former colleagues testifying to his character.
“His personal history and character, the role he played in the crimes charged, the speed with which he cooperated, his response to the FTX collapse, and how he has rebuilt his life since then,” the lawyers said.
Singh is scheduled to be sentenced on October 30. Meanwhile, former FTX technical director Gary Wang is scheduled to be sentenced on November 20. Singh could face up to 75 years in prison for defrauding cryptocurrency exchange users.
In February 2023, Singh pleaded guilty to six criminal charges, including one count of wire fraud, one count of conspiracy to commit money laundering, three counts of conspiracy to defraud, and one count of conspiracy to defraud the United States through campaign finance violations. law.
In October 2023, he testified against former CEO Sam Bankman-Fried as part of a cooperation agreement with the government. Singh, a former Alameda and FTX developer, developed software code to help transfer FTX customer funds to Alameda Research.
According to the Securities and Exchange Commission, as the exchange was on the verge of collapse, Singh actively participated in defrauding investors and withdrawing approximately $6 million from the company for personal use and expenses.
In March 2024, Bankman-Fried was sentenced to 25 years in prison after being found guilty on seven counts of fraud and conspiracy. Caroline Ellison, CEO of Alameda Research, was sentenced to two years in prison last month after pleading guilty to the same charges as Bankman-Fried. FTX Digital Markets CEO Ryan Salame was sentenced to 7.5 years in prison earlier this month.