Former FTX executive Nishad Singh has received a letter of support from FTX bankruptcy CEO John J. Ray III ahead of his sentencing for his part in the collapsed exchange’s theft of $8 billion in customer funds.
That’s according to Inner City Press and Matthew Russell Lee who shared the letter last night. The letter, addressed to Judge Lewis Kaplan, highlights Singh’s cooperation with debtors, from returning Bahamian real estate that was purchased with debtors’ funds to providing documents and answering questions while under investigation.
According to the letter, a final settlement between Singh and debtors is in the works. Singh will be required to turn over “all of his remaining assets after satisfying his forfeiture obligations,” testify as needed, and “voluntarily provide documents and information, reviewing and clarifying documents, locating and retrieving assets, and answering questions from the Debtors’ advisors.”
Read more: Nishad Singh hopes to avoid prison in FTX case
Singh, who was FTX’s Director of Engineering, pleaded guilty to six charges last year. He also filed a sentencing submission earlier this month that stressed his cooperation while claiming he should avoid a prison sentence.
Singh’s hearing is scheduled for 3 pm, Eastern Time.
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Source: https://protos.com/nishad-singh-receives-ftx-chiefs-support-ahead-of-todays-sentencing/