Nishad Singh hopes to avoid prison in FTX case
Nishad Singh, the former Director of Engineering at FTX, has filed a sentencing submission in his criminal case arguing that he should avoid prison in light of his extensive cooperation and smaller role than many of the conspirators in the fraud. The documents detail Singh’s roles at Alameda Research and FTX, from almost the beginning of Alameda up until the firms plunged into a chaotic bankruptcy. They detail Singh’s narrative about how he was unaware of the misappropriation of customer funds at FTX until just months before the collapse, though this underplays his role in creating the infamous ‘allow negative’ years before. Singh, like other executives, also emphasized that it was recommended to him that he take large, poorly documented loans from Alameda instead of liquidating his tokens to fund his activities. Among his activities described as “regrettable” was the purchase of a multi-million dollar vacation home after he was aware of the theft...