Inner City Press reported that the court has ruled in the case of former FTX CTO Nishad Singh. He has been given a suspended sentence of three years.
It should be noted that Singh previously pleaded guilty to six charges and made a deal with prosecutors against his boss and former FTX CEO Sam Bankman-Fried.
At the trial, prosecutor Nicholas Rus noted that Singh had cooperated with the investigation in every possible way and had not avoided prosecution, although he could have. According to him, thanks to Singh's information, it was possible to more quickly uncover a fraudulent scheme involving top managers of the FTX exchange.
The judge upheld the prosecutor's arguments and said Nishad Singh's involvement in the fraud scheme was far less than that of Caroline Ellison and Sam Bankman-Fried.
Singh's lawyers agreed with the court's decision, emphasizing that their client had fully repented of his actions and no longer intended to participate in any fraudulent schemes.
Thus, thanks to his cooperation with the prosecutor's office, Nishad Singh avoided a long prison sentence. Sam Bankman Fried, who did not admit his guilt, will sit in prison for several more decades.
