Nishad Singh, the former director of engineering and a co-founder of Sam Bankman-Fried's bankrupt cryptocurrency exchange FTX, pleaded guilty Tuesday to six criminal charges.
Securities attorney Andrew Stoltmann reacts to a U.S. judge extending FTX founder Sam Bankman-Fried's bail restrictions on 'The Big Money Show.'
FTX co-founder and ex-engineering chief Nishad Singh pleaded guilty to six criminal fraud charges in Manhattan federal court on Tuesday, becoming the latest in's inner circle to admit participating in wrongdoing at the bankrupt crytocurrency exchange. Appearing before U.S. District Judge Lewis Kaplan, Singh pleaded guilty to wire fraud, conspiracy to commit fraud, conspiracy to commit money laundering and conspiracy to defraud the U.S. by violating campaign finance laws.
Co-founder Nishad Singh pleaded guilty Tuesday to charges connected to the collapse of FTX, whose name still adorned the Miami Heat's arena on Nov. 12, 2022. "Today’s guilty plea underscores once again that the crimes at FTX were vast in scope and consequence," U.S. Attorney Damian 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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