Former FTX Engineer Nishad Singh Requests No Prison Time in Sentencing Submission

TLDR

• Nishad Singh’s lawyers request no prison time in sentencing submission
• Described as “uncommonly selfless” with over 100 support letters
• Pleaded guilty to 6 criminal charges related to FTX collapse in February 2023
• Lawyers argue his involvement was limited and began only 2 months before FTX collapse
• Singh’s cooperation was critical in cases against Sam Bankman-Fried and Ryan Salame

Nishad Singh, the former Director of Engineering at cryptocurrency exchange FTX, is seeking leniency as his sentencing date approaches.

Singh’s lawyers have filed a sentencing submission with the U.S. Southern District of New York, requesting that he be spared from prison time.

In the document filed on October 16, 2024, Singh’s legal team portrays him as an “uncommonly selfless individual.”

To support this characterization, they have included over 100 letters from family, friends, and former colleagues attesting to Singh’s character.

Singh pleaded guilty to six criminal charges in February 2023, including fraud and conspiracy related to his role in the collapse of FTX.

However, his lawyers argue that his involvement in the criminal activities was more limited compared to other defendants in the case.

According to the filing, Singh did not join the conspiracy to misuse FTX customer funds until September 2022, just two months before the exchange’s collapse.

His legal team emphasizes that while Singh acknowledges the seriousness of his actions, his late involvement should be considered during sentencing.

The document also highlights Singh’s cooperation with authorities following FTX’s bankruptcy announcement.

Singh reportedly flew to New York to assist investigators, providing critical evidence that helped bring cases against FTX founder Sam Bankman-Fried and former executive Ryan Salame.

Singh’s testimony was used against Bankman-Fried during his trial in October 2023. Bankman-Fried was subsequently found guilty on seven fraud and conspiracy charges and sentenced to 25 years in prison in March 2024.

Other key figures in the FTX case have already received their sentences. Caroline Ellison, former CEO of Alameda Research and Bankman-Fried’s ex-girlfriend, was given a two-year sentence last month after pleading guilty to the same charges as Bankman-Fried.

Ryan Salame, who served as CEO of FTX Digital Markets, began serving a 7.5-year prison term earlier this month for operating an unlicensed money transmitter and conspiring to defraud the Federal Election Commission.

Singh’s sentencing is scheduled for October 30, 2024. The outcome of his case will be closely watched by those in the cryptocurrency industry and legal observers alike, as it may provide insights into how courts view different levels of involvement in crypto-related financial crimes.