Former FTX Engineering Director Receives Three Years of Supervised Release
Nishad Singh, former director of engineering at FTX, received a sentence of time served and three years of supervised release for his involvement in the exchange's collapse. He will not serve prison time.
In February 2023, Singh pleaded guilty to six charges, including conspiracy to commit money laundering and campaign finance violations, and was a government witness during Sam Bankman-Fried’s criminal trial last fall.
Judge Lewis Kaplan acknowledged Singh's cooperation, stating that while self-interest was involved, he "did the right thing." Singh's family attended the sentencing, with Kaplan assuring them he saw nothing wrong in their actions.
The sentencing guidelines indicated a potential 75-year prison term for Singh. However, Judge Kaplan described Singh's cooperation as “remarkable.”
Prosecutors highlighted Singh's "exemplary cooperation," which aided the prosecutions of Bankman-Fried and former FTX Digital Markets CEO Ryan Salame.
Bankman-Fried is serving a 25-year sentence after being convicted on multiple fraud-related counts. Salame is serving a 7.5-year sentence after pleading guilty to campaign finance violations and operating an unlicensed money-transmitting business.
Singh’s sentencing follows that of former Alameda Research CEO Caroline Ellison, who received a 24-month sentence after pleading guilty to seven counts and testifying against Bankman-Fried. Kaplan noted that while Ellison deserved leniency, Singh "deserved more."
FTX co-founder Gary Wang, who also testified against Bankman-Fried, is scheduled for sentencing next month after pleading guilty to four counts of fraud and conspiracy.