{"id":3157,"date":"2024-10-30T23:36:54","date_gmt":"2024-10-30T23:36:54","guid":{"rendered":"https:\/\/usatrustedlawyers.com\/blog\/former-ftx-executive-nishad-singh-sentenced-to-time-served\/"},"modified":"2024-10-30T23:36:54","modified_gmt":"2024-10-30T23:36:54","slug":"former-ftx-executive-nishad-singh-sentenced-to-time-served","status":"publish","type":"post","link":"https:\/\/usatrustedlawyers.com\/blog\/former-ftx-executive-nishad-singh-sentenced-to-time-served\/","title":{"rendered":"Former FTX Executive Nishad Singh Sentenced to Time Served"},"content":{"rendered":"\n<div data-v-bd626ec8=\"\">\n<div data-v-bd626ec8=\"\">\n<p>One of the top executives of the collapsed crypto exchange FTX was sentenced to time served on Wednesday by a federal judge in New York.<\/p>\n<\/div>\n<p>  <!----> <!----> <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>Nishad Singh smiled as U.S. District Court Judge Lewis Kaplan of the Southern District of New York imposed the sentence.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>&#8220;You didn&#8217;t try to figure out the spectrum of options,&#8221; Kaplan told the 29-year-old. &#8220;You did the right thing. You very quickly, within days, told the truth.&#8221;<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>Kaplan imposed three years of supervised release and $11,020,000,000 forfeiture but declined to impose restitution.<\/p>\n<\/div>\n<p> <!---->  <!----> <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>Before leaving the bench, the judge turned to Singh&#8217;s parents, who were seated in the front row along with his fiancee and extended family.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>&#8220;This is purely personal,&#8221; Kaplan said to his mother and father. &#8220;I don&#8217;t see anything you did wrong.&#8221;<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>Singh served as the former chief engineer of FTX. Prosecutors with the U.S. Attorney&#8217;s Office for the Southern District of New York have described his cooperation as key in not only charging Sam Bankman-Fried and others but in securing a conviction in the case.<\/p>\n<\/div>\n<p> <!----> <!---->  <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>Assistant U.S. Attorney Nicholas Roos on Wednesday said that, following the collapse, Singh walked into the office\u2014before he&#8217;d been contacted or threatened with charges\u2014and then &#8220;proceeded to incriminate himself in serious crimes&#8221; the government didn&#8217;t know about.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>Roos said Singh alerted the government to both a massive campaign violation scheme and a securities fraud scheme of which they were not yet aware.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>Defense attorney Andrew Goldstein of Cooley said his client was &#8220;in the dark, he was not part of the inner circle.&#8221;<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>Singh, he said, learned of the &#8220;main conspiracy after all the conduct occurred&#8221; and will &#8220;forever regret the role he played.&#8221;<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>&#8220;I strayed so far,&#8221; Singh said in addressing the court. &#8220;But I am committed to living a life of tangible, robust good.&#8221;<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>Singh pleaded guilty to counts of fraud and conspiracy in February 2023 and served as a prosecution witness against his former boss, Bankman Fried.<\/p>\n<\/div>\n<p> <!----> <!----> <!----> <!----> <!----> <!----> <!----> <!----><\/p>\n<div data-v-bd626ec8=\"\">\n<p>Goldstein declined to comment following the sentencing.<\/p>\n<\/p><\/div>\n<p> <!----> <!----> <!----> <!----><\/div>\n","protected":false},"excerpt":{"rendered":"<p>One of the top executives of the collapsed crypto exchange FTX was sentenced to time served on Wednesday by a federal judge in New York. Nishad Singh smiled [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[3971,2790,3972,3974,3975,3973,1059],"class_list":["post-3157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lawyers","tag-executive","tag-ftx","tag-nishad","tag-sentenced","tag-served","tag-singh","tag-time"],"_links":{"self":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/3157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=3157"}],"version-history":[{"count":0,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/3157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media\/3158"}],"wp:attachment":[{"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=3157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=3157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usatrustedlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=3157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}