Former FTX Exec Nishad Singh Seeking Cooperation Deal From Authorities: Report

Yahoo! News ^ | January 10, 2023 | By Andrew Asmakov

[Oldeconomybuyer]

Nishad Singh, the former head of engineering at the collapsed exchange FTX, met with the US federal prosecutors seeking a cooperation deal, according to a Bloomberg report citing people familiar with the matter.

Singh, Bankman-Fried’s former roommate in the Bahamas and a significant donor for Democrats’ election campaigns himself, could reportedly provide insight into the campaign finances of FTX.

Since 2020, he has donated over $9.3 million to Democratic candidates and committees, with the largest recipient being Mind The Gap, a political action committee founded by SBF’s mother, Barbara Fried, which last year received a $1 million donation.

According to bankruptcy court documents, Singh also received $543 million in loans from Alameda Research.

This makes Singh the third member of Sam Bankman-Fried’s inner circle to seek leniency in the fraud case over the FTX collapse. Two of Sam Bankman-Fried's closest former allies—Alameda Research ex-CEO Caroline Ellison and FTX co-founder Gary Wang—have already pleaded guilty to fraud charges and are currently cooperating with the Southern District of New York.

Singh, who has so far not been accused of any wrongdoings, reportedly met the prosecutors in a proffer session in the Southern District of New York U.S. Attorney’s Office last week.

[Red Badger]

[circlecity]

Everyone flipping. If SBF doesn’t get a Madoff like sentence then we know the fix was in to protect the pols and powerbrokers who were talking n bed with him.

[thinden]

Since 2020, he has donated over $9.3 million to Democratic candidates and committees, with the largest recipient being Mind The Gap, a political action committee founded by SBF’s mother, Barbara Fried, which last year received a $1 million donation.

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mama mia!