Former FTX Executive Pleads Guilty to Charges in Connection to Collapse of Crypto Exchange

Nishad Singh, former director of engineering at FTX, the bankrupt cryptocurrency exchange founded by Sam Bankman-Fried, agreed Tuesday to plead guilty to criminal charges, according to his lawyers and federal prosecutors in New York.

Singh agreed to plead guilty to six counts of fraud and conspiracy contained in information unsealed Tuesday, becoming the third member of Bankman-Fried’s inner circle to admit guilt and cooperate with federal prosecutors as they build a case against those believed responsible for what U.S. Attorney Damian Williams has called one of the biggest financial frauds in American history.

“Today’s guilty plea underscores once again that the crimes at FTX were vast in scope and consequence,” Williams said in a statement. “They rocked our financial markets with a multibillion dollar fraud. And they corrupted our politics with tens of millions of dollars in illegal straw campaign contributions. These crimes demand swift and certain justice and that is exactly what we are seeking in the Southern District of New York.”

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