Federal prosecutors are probing whether former FTX Director of Engineering Nishad Singh played any role in trading schemes that resulted in the illicit use of customers’ funds, Bloomberg first reported.
Additional agencies including the Securities and Exchange Commission and the Commodity Futures Trading Commission are also investigating Singh, Bloomberg reported, citing sources familiar with the issue.
Although Singh has yet to be officially charged for any crimes related to the FTX case, if prosecutors find a connection he may face charges as soon as this month, Bloomberg said.
Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from founder and former FTX and Alameda CEO Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://www.theblock.co/post/200335/prosecutors-investigate-former-ftx-executive-nishad-singh-bloomberg?utm_source=rss&utm_medium=rss