Former FTX exec pleads guilty to charges related to crypto exchange's collapse

ABC Via MSN ^ | February 28, 2023 | Staff

[Red Badger]

Nishad Singh, former director of engineering at FTX, the bankrupt cryptocurrency exchange founded by Sam Bankman-Fried, agreed Tuesday to plead guilty to criminal charges, according to his lawyers and federal prosecutors in New York.

Singh agreed to plead guilty to six counts of fraud and conspiracy contained in information unsealed Tuesday, becoming the third member of Bankman-Fried's inner circle to admit guilt and cooperate with federal prosecutors as they build a case against those believed responsible for what U.S. Attorney Damian Williams has called one of the biggest financial frauds in American history.

[Sicon]

Nishad is deeply sorry for his role in this and has accepted responsibility for his actions," Singh's lawyers, Andrew D. Goldstein and Russell Capone, said in a statement to ABC News. "He wants to do everything he can to make things right for victims, including by assisting the government to the best of his ability in this case."

That's nice. Too bad Nishad doesn't have $32 billion to compensate everyone FTX defrauded. How about 40 years in prison instead?

[Honest Nigerian]

One of the biggest financial frauds in US history?
Social Security says, “Hold mah beer an watch dis.”
Not to be outdone, [come on fellow Freepers, list you contender/s]

[Prince of Space]

I got my techie son-in-law a baseball cap for Christmas that said “FTX Risk Management Team.” It made me chuckle and he loved it.