NEW YORK — The former head of engineering at Sam Bankman-Fried’s bankrupt cryptocurrency trading firm FTX owned up to fraud charges on Tuesday, federal prosecutors said.
Nishad Singh, 27, pleaded guilty in Manhattan Federal Court to wire fraud, conspiracy to commit commodities fraud, conspiracy to commit money laundering, conspiracy to make unlawful political contributions and defraud the Federal Election Commission, and other related charges. He is the third member of Bankman-Fried’s inner circle now cooperating against him.
“Today’s guilty plea underscores once again that the crimes at FTX were vast in scope and consequence. They rocked our financial markets with a multibillion-dollar fraud,” Manhattan U.S. Attorney Damian William said.
