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Nishad Singh, who led engineering at FTX, has pleaded guilty to six criminal charges.
The SEC separately accused him of skimming about $6 million from FTX for « personal use and expenditures. »
Singh is « deeply sorry for his role in this, » his lawyers told Insider in a statement.
Nishad Singh is the latest top executive from Sam Bankman-Fried’s crumbled crypto enterprise to plead guilty to criminal charges stemming from the fall of FTX.
Singh pleaded guilty to six counts, including wire fraud and various conspiracy charges, according to a filing on Tuesday in New York federal court. The charges by federal prosecutors outline their now-familiar allegations of a scheme at FTX to use customers’ funds to support the functions of Bankman-Fried’s hedge fund, Alameda Research.
« Singh agreed with others to defraud customers of FTX by misappropriating those customers’ deposits and using those deposits to pay expenses and debts of Alameda Research, and to make investments, and for other purposes, » prosecutors said in their charging document against Singh.
