The post Ex-FTX Engineer Nishad Singh Pleads to Be Spared From Prison appeared on BitcoinEthereumNews.com.

FTX’s former engineering director, Nishad Singh has urged a judge to spare him from prison for role in the collapse of the once-leading cryptocurrency exchange. In a memo filed on Wednesday, Nishad Singh’s lawyers told a Manhattan federal judge that he deserves leniency since he had a limited role in FTX’s failure. He urged to be spared from prison time owing to his immediate cooperation with investigators, and “the exemplary life he is committed to leading.” In their sentencing recommendation, the lawyers wrote, “His circumstances are extraordinary in every way that matters to sentencing: his personal history and characteristics, his role in the charged offenses, the speed with which he cooperated, his response to the collapse of FTX, and how he has rebuilt his life since then.” He was among four top FTX figures to plead guilty to criminal offenses including wiring fraud, commodities fraud, and money laundering carried out at the direction of FTX. Co-founder of FTX, Sam Bankman-Fried is sentenced to 25 years in prison. Meanwhile, Caroline Ellison, his former girlfriend and ex-head of Alameda Research, FTX’s sister company, was sentenced to two years in prison. Recently, FTX also filed a motion for settlement with Ellison, proposing that she must give up almost all of her remaining assets. Also Read: FTX Bankruptcy Plan Approved, Creditor Payouts to Begin Now! Source: https://www.cryptonewsz.com/ex-ftx-engineer-nishad-singh-pleads-no-prison/

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Filed under: News - @ October 17, 2024 8:22 am