Nishad Singh is third person in founder’s inner circle agreeing to cooperate with federal prosecutors ... The collapse of FTX has set off the largest crypto-related bankruptcy ever ... Singh said that in mid-2022 he learned that Mr. Bankman-Fried’s crypto hedge fund Alameda Research was borrowing FTX customer funds. By September 2022, Alameda was no longer able to repay the billions of dollars that it had taken from FTX, Mr. Singh said. He said that, at the direction of Mr. Bankman-Fried, he falsified FTX’s revenues to make the company more appealing to investors. ... Mr. Singh also pleaded guilty to...
