Sam Bankman-Fried does not seem to get comfort as authorities keep on investigating and trying every means. US authorities recently reported a probe on SBF’s associate at FTX who’s also from his inner circle.
Bloomberg cited the people with familiarity of the matter and reported that Nishad Singh, chief engineer at FTX, is prone to get scrutinized. Manhattan federal prosecutors were said to have found Singh’s active role in the alleged shady activities at the Bahamian crypto exchange and trading firm Alameda Research. The source mentioned that he could get charged this month itself as soon as possible.
It also added that United States Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) are behind Singh for investigation.
Earlier SBF’s associates—Caoline Ellison and Gary Wang—already pleaded guilty and agreed to work with authorities in order to cooperate for investigation.
Now Singh’s probing could create further issues for the former FTX CEO being a potential legal threat.
Although it was not clear until now if he had been accused of any wrongdoing for that matter and if he’ going to follow the same path like Ellison and Wang did.
Singh’s lawyer, Andrew D. Goldstein, who is also former chief of the public corruption unit at South District of New York (SDNY) along with the SEC and CFTC, also did not make any comment by the time.
Serving as public corruption unit chief at SDNY earlier, he also joined the special task force formed intending to investigate FTX.
Earlier The CoinRepublic reported that a task group to investigate the collapse of the cryptocurrency exchange FTX was announced by US Attorney Damian Williams. Williams, who is the federal prosecutor in charge of the case against FTX and its founder Sam-Bankman Fried, has made sure the probe is moving forward despite the fact that SDNY is operating around the clock.
The SDNY FTX Task Force is a division of the SDNY office of the US Attorney for the Southern District of New York. It will examine the current inquiries and legal actions regarding the collapse of the Bahamian cryptocurrency exchange. In addition to doing this, the task force will work to find and recover any customer cash lost as a result of the FTX incident.
Source: https://www.thecoinrepublic.com/2023/01/07/are-authorities-tightening-grip-around-bankman-frieds-close-ftx-associates/