FTX Former Engineering Chief Nishad Singh Looking for Deal From Feds: Report

Sam Reynolds
Updated ·1 min read
348

Another one of Sam Bankman-Fried’s former confidants and roommates is said to be engaging with the U.S. Attorney’s Office in the Southern District of New York with the hope of getting a plea agreement, according to a report from Bloomberg.

Nishad Singh, FTX’s former director of engineering and a housemate of Bankman-Fried, is said to have met with prosecutors in a "proffer session." Such meetings often include an offer of "limited immunity" to encourage the interviewee to speak freely. Singh has not been accused of wrongdoing.

Former Alameda Research CEO Caroline Ellison and former FTX CTO Gary Wang have both pleaded guilty to fraud charges.

Central to Singh’s deal is information on FTX’s and Bankman-Fried’s large donations to various political campaigns, according to Bloomberg, citing people familiar with the matter.

Singh personally has donated more than $9.3 million to Democratic Party-aligned initiatives since 2020. In April 2021, the political action committee Mind The Gap, founded by Bankman-Fried's mother, received a $1 million donation from Singh.

According to court documents from November, Singh received $543 million in loans from Alameda Research. The former FTX affiliate is recorded as granting $4.1 billion in loans to related parties.