Nishad Singh, the former head of engineering at FTX, is seeking exemption from a prison sentence, claiming his limited involvement in the cryptocurrency exchange’s collapse and his commitment to a reformed life.
On October 16, Singh’s legal team submitted a memo to a Manhattan federal judge, arguing for a reduced sentence based on his cooperative efforts during the investigation and a dedication to personal rehabilitation.
Singh, the fourth executive indicted in connection with FTX’s downfall, was characterized in the filing as an “uncommonly selfless individual,” backed by over 100 character references from family, friends, and colleagues.
Attorneys highlighted Singh’s personal history, his prompt cooperation, and his actions following the FTX collapse as justifications for leniency.
Sentencing for Singh is set for October 30, while his former colleague Gary Wang will face sentencing on November 20. Singh risks up to 75 years in prison for his role in defrauding FTX users.
In February 2023, Singh pleaded guilty to six charges, including wire fraud and conspiracy to commit money laundering and fraud. In October 2023, he testified against former CEO Sam Bankman-Fried as part of a cooperation agreement with authorities, detailing his involvement in developing software that misappropriated FTX customer funds.
The Securities and Exchange Commission accused Singh of participating in the misleading of investors and siphoning approximately $6 million from FTX for personal use as the company faced liquidation.
Following the FTX fallout, Bankman-Fried was sentenced to 25 years in prison for multiple fraud charges. Caroline Ellison, former CEO of Alameda Research, received a two-year sentence last month, while Ryan Salame, CEO of FTX Digital Markets, began serving a 7.5-year prison term earlier this month.
