FTX Ex-Engineering Chief Nishad Singh Pleads Guilty To Criminal Charges

FTX ex-engineering head Nishad Singh pleaded guilty to criminal charges in New York on Tuesday, becoming the latest member of Sam Bankman-Fried's former leadership team to agree to a deal. CNBC reports: The six charges against Singh include conspiracy to commit securities fraud, conspiracy to commit money laundering and conspiracy to violate campaign finance laws. FTX spiraled into bankruptcy in November after the crypto exchange, founded by Bankman-Fried, couldn't meet customers' withdrawal demands.

"Today's guilty plea underscores once again that the crimes at FTX were vast in scope and consequence," Manhattan 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."

The Securities and Exchange Commission, as well as the Commodity Futures Trading Commission both filed related civil complaints against Singh on Tuesday. The SEC said in a release that Singh is cooperating with the agency's ongoing investigation, and he has separately agreed to settle with the CFTC. Two of the criminal charges against Singh are related to wire fraud and another is conspiracy to commit commodities fraud.

Oh my

[quonset]

How awful. Who could have seen such a thing?

Penal System

[Ritz_Just_Ritz]

SBF about to learn the alternative meaning.

Re:

[Joe_Dragon]

don't drop the soap!

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[youngone]

I wouldn't be too sure about that.
From what I can see his only real skill is the fact he was born into the ruling class.
His Wikipedia page says: "In 2014, he graduated with a bachelor's degree in physics and a minor in mathematics" which means he is probably not stupid but his only life experience is working in a trading house and then scamming people using bitcoin.
He'll go to some nice white collar prison so there will be actual accountants there.

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[gweihir]

Well, the guy is frequently described as "very smart", but from all I have seen that cannot actually be true. My guess is he has a lot of presence and excellent skills at convincing people, but is not that smart actually. Because not so smart people often think they are quite smart, they would then mistakenly believe that people that can convince _them_ must obviously be very smart.

Noooo, that cannot be!

[Opportunist]

Someone dealing in craptocurrency being involved in illegal dealings? Someone please hand me some pearls I could clutch!

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[Arethan]

So lucky. We're just about to ICO eClutchablePearlCoin for this very purpose!
Get in on the base ground and you too can maybe be a bazilliancionionaire!

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[gweihir]

Hmmm. "Clutchcoin"? There may still be some fools around that would pay for those!

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[Opportunist]

Join the crowd, start spamming YouTube videos. The latest con is "Amazon coins".

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[gweihir]

Naa, I am too lazy and I already earn enough with somewhat honest work....

Swift justice

[Joce640k]

Jeez, these guys are being processed at record speed.

Can we have this team on the Trump case when they're done with FTX?

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[gweihir]

Well, I am sure you can be put on a list somewhere as well. And then we only need to make gross stupidity a crime...

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[MysteriousPreacher]

>Can we have this team on the Trump case when they're done with FTX?

It moves more quickly when there's a legal standard of evidence to support a prosecution. Although that standard has clearly not yet been met, you might refer to legal precedent to aid your prosecution. Hopkins v. Clarke seems highly relevant to the Trump investigations. Here's a link to that case: https://en.wikipedia.org/wiki/... [wikipedia.org]

You may also consider purchasing one of these legal instruments: https://www.amazon.com/Truper-... [amazon.com]

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[Joce640k]

Well, maybe.... see... with this guy, there was actually a crime committed. With Trump. it's just a far-woke witchhunt where no actual crimes were committed. So...

I think we found the Fox news fan.

Hopefully he'll testify against SBF

[Anon78906799]

That's the bare minimum that should be demanded of him in return for this plea bargain. It's utterly implausible an engineering chief worthy of the title had no idea it was a giant Ponzi scheme. Although the perfect outcome would be both a) huge jail time for the CEOs, and b) none of those idiots get their money back who kept funds with FTX and Coinbase etc. in the first place.