btc
Bitcoin (BTC)
$94,072.00 -2.55%
Bitcoin price
eth
Ethereum (ETH)
$3,322.54 -1.21%
Ethereum price
bnb
BNB (BNB)
$696.63 -0.04%
BNB price
sol
Solana (SOL)
$194.43 -1.97%
Solana price
xrp
XRP (XRP)
$2.35 1.24%
XRP price
shib
Shiba Inu (SHIB)
$0.0000212 -2.4%
Shiba Inu price
pepe
Pepe (PEPE)
$0.0000179 -3.17%
Pepe price
bonk
Bonk (BONK)
$0.0000286 -5.18%
Bonk price
wif
dogwifhat (WIF)
$1.68 -9.19%
dogwifhat price
popcat
Popcat (POPCAT)
$0.59 -11.73%
Popcat price
btc
Bitcoin (BTC)
$94,072.00 -2.55%
Bitcoin price
eth
Ethereum (ETH)
$3,322.54 -1.21%
Ethereum price
bnb
BNB (BNB)
$696.63 -0.04%
BNB price
sol
Solana (SOL)
$194.43 -1.97%
Solana price
xrp
XRP (XRP)
$2.35 1.24%
XRP price
shib
Shiba Inu (SHIB)
$0.0000212 -2.4%
Shiba Inu price
pepe
Pepe (PEPE)
$0.0000179 -3.17%
Pepe price
bonk
Bonk (BONK)
$0.0000286 -5.18%
Bonk price
wif
dogwifhat (WIF)
$1.68 -9.19%
dogwifhat price
popcat
Popcat (POPCAT)
$0.59 -11.73%
Popcat price
btc
Bitcoin (BTC)
$94,072.00 -2.55%
Bitcoin price
eth
Ethereum (ETH)
$3,322.54 -1.21%
Ethereum price
bnb
BNB (BNB)
$696.63 -0.04%
BNB price
sol
Solana (SOL)
$194.43 -1.97%
Solana price
xrp
XRP (XRP)
$2.35 1.24%
XRP price
shib
Shiba Inu (SHIB)
$0.0000212 -2.4%
Shiba Inu price
pepe
Pepe (PEPE)
$0.0000179 -3.17%
Pepe price
bonk
Bonk (BONK)
$0.0000286 -5.18%
Bonk price
wif
dogwifhat (WIF)
$1.68 -9.19%
dogwifhat price
popcat
Popcat (POPCAT)
$0.59 -11.73%
Popcat price

FTX former chief of engineering Nishad Singh spared from prison time

ftx-former-chief-of-engineering-nishad-singh-spared-from-prison-time
Edited by
News
FTX former chief of engineering Nishad Singh spared from prison time

Former FTX executive, Nishad Singh, avoids prison time after being sentenced the Manhattan federal judge. Singh is sentenced to three years of supervised release for his role in FTXโ€™s collapse.

According to NBC Newsโ€™ report, Singh was spared from spending time in prison by the Manhattan federal judge. Instead, he was sentenced to time served and three years of supervised release. He was also ordered to forfeit around $11 billion.

Singh was sentenced by Judge Lewis A. Kaplan in federal court in New York on Oct. 29. Kaplan cited the reason behind the light sentence being Singhโ€™s โ€œremarkableโ€ cooperation with the government and his limited role in one of the biggest financial frauds in U.S history.

The outcome of Singhโ€™s sentence was exactly what his lawyers had pleaded for in a filed memo addressed to the judge on Oct. 16. His prosecutors argued the FTX former head of engineering deserved a lighter sentence due to Singhโ€™s limited role in FTXโ€™s collapse and โ€œthe exemplary life he is committed to leading.โ€

Last year, Singh testified against former CEO Sam Bankman-Fried as part of his cooperation deal with the government.

Earlier this year, Singh pleaded guilty to six to six criminal charges, including conspiracy to commit securities fraud, conspiracy to commit money laundering and conspiracy to violate campaign finance laws. He faced a maximum sentence of up to 75 years of prison for his involvement in FTXโ€™s multibillion-dollar fraud.

Singh is the first FTX former executive to receive no prison time for his involvement. He is also the fourth former FTX executive to be punished for his role in the collapse of the crypto exchange. The other three FTX executives are Sam Bankman-Fried, former CEO of Alameda Research Caroline Ellison, and former CEO of FTX Digital Markets, Ryan Salame.

Bankman-Fried was sentenced to 25 years in prison, while Ellison received two years of prison time and Salame started a 7.5 year prison sentence earlier this month. Meanwhile, FTX co-founder Gary Wang is due to be sentenced on Nov. 20.