Nishad Singh’s Lawyers Ask Judge to Spare Him Prison, Say He Is an ‘Uncommonly Selfless Individual’

As a seasoned crypto investor who has weathered numerous market fluctuations and scandals, I have learned to appreciate the nuances of each case that unfolds within our industry. The recent developments surrounding FTX and its key personnel have been particularly captivating, and the story of Nishad Singh is one that stands out.

In simpler terms, lawyers for the ex-FTX Director of Engineering, Nishad Singh, have requested leniency from a federal judge, asking that he not be given prison time, in a sentencing document submitted to the U.S. Southern District of New York on October 16th.

The filing describes Singh as an “uncommonly selfless individual” and includes more than 100 letters from family, friends and former colleagues.

As a researcher, I’d articulate it like this: “My client’s involvement was significantly less extensive than that of the other defendants. He acknowledges his wrongdoings and has already admitted guilt for grave offenses at the onset of this case. The consequences of his actions will haunt him forever. However, when considering his sentence, it is crucial to understand that Nishad did not become part of the central conspiracy – the embezzlement of FTX customer funds – until September 2022, which was merely two months prior to the downfall of FTX.

Additionally, the document mentioned that after FTX declared bankruptcy, Singh traveled to New York to collaborate with the relevant authorities.

According to the record, the initial data presented by Nishad played a crucial role in facilitating the prosecution of both Sam Bankman-Fried and Ryan Salame, as stated in the document.

In February 2023, Singh admitted guilt on six criminal counts, which encompassed charges like fraud and conspiracy. These were related to the downfall of FTX. Later, in October 2023, he took the stand against his ex-boss, Sam Bankman-Fried, during his trial.

In March this year, Sam Bankman-Fried was given a 25-year prison term following his conviction on seven separate counts of fraud and conspiracy. His ex-girlfriend and Alameda Research’s CEO, Caroline Ellison, was sentenced to two years in prison last month after admitting guilt to the same charges as Bankman-Fried. As for Ryan Salame, the CEO of FTX Digital Markets, he started serving a 7.5-year prison sentence earlier this month following his guilty plea on charges related to running an unlicensed money transmitter and conspiring to deceive the Federal Election Commission.

On October 30, Singh is expected to receive his sentence, while former CTO Gary Wang’s sentencing is scheduled for November 20.