{"id":74399,"date":"2023-02-21T10:16:02","date_gmt":"2023-02-21T08:16:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74399"},"modified":"2025-09-09T19:51:07","modified_gmt":"2025-09-09T16:51:07","slug":"bloomberg-another-top-ftx-executive-plans-to-plead-guilty-to-fraud","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bloomberg-another-top-ftx-executive-plans-to-plead-guilty-to-fraud\/","title":{"rendered":"Bloomberg: another top FTX executive plans to plead guilty to fraud"},"content":{"rendered":"<p>Former FTX chief technology officer Nishad Singh plans to plead guilty to fraud for his role in <a href=\"https:\/\/u1f987.com\/en\/news\/how-the-collapse-of-ftx-and-alameda-research-will-affect-the-crypto-industry\">beleaguered exchange<\/a>. <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-17\/top-bankman-fried-associate-nears-plea-deal-in-us-probe-of-ftx?sref=AACmJ2tc\">Bloomberg<\/a> reports, citing its own sources.<\/p>\n<p>According to them, Singh is discussing a possible deal with prosecutors, which has not yet been concluded.<\/p>\n<p>In December, two other associates of Sam Bankman-Fried \u2014 the former Alameda Research CEO Caroline Ellison and the exchange&#8217;s co-founder Gary Wang \u2014 <a href=\"https:\/\/u1f987.com\/en\/news\/caroline-ellison-and-gary-wang-plead-guilty-to-ftx-collapse-related-charges\">admitted guilt<\/a> to charges related to the collapse of FTX. Bankman-Fried <a href=\"https:\/\/u1f987.com\/en\/news\/sam-bankman-fried-refuses-to-plead-guilty-trial-set-for-october\">did not strike a deal<\/a> with prosecutors.<\/p>\n<p>Singh built the platform&#8217;s software and played a central role in FTX&#8217;s day-to-day operations. He was in Bankman-Fried&#8217;s inner circle, living with him in a penthouse in the Bahamas.<\/p>\n<p>The FTX chief technology officer participated in the transfer of <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-seeks-return-of-donations-from-u-s-politicians\">political contributions<\/a> in the United States. Since 2020 Singh has channeled more than $9.3 million to Democratic candidates. He also obtained a credit facility worth hundreds of millions of dollars from Alameda.<\/p>\n<p>In January, Singh met with prosecutors to provide unsworn testimony. Such sessions grant limited immunity, but do not necessarily lead to a deal with prosecutors.<\/p>\n<p>Earlier, the U.S. Department of Justice <a href=\"https:\/\/u1f987.com\/en\/news\/us-court-unveils-charges-against-sam-bankman-fried\">charged Bankman-Fried with eight counts<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The former FTX chief technology officer Nishad Singh plans to plead guilty to fraud for his role in the beleaguered exchange. Bloomberg reports, citing its own sources.<\/p>\n","protected":false},"author":1,"featured_media":74400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,1236],"class_list":["post-74399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-ftx"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=74399"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74399\/revisions"}],"predecessor-version":[{"id":74401,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/74399\/revisions\/74401"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/74400"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=74399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=74399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=74399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}