Former FTX technical director Nishad Singh has agreed to plead guilty to criminal charges brought by US prosecutors in the investigation into FTX founder Sam Bankman-Fried's inner circle of contacts. .
Bankman-Fried was charged with fraud and conspiracy in December, with prosecutors alleging that he stole billions of dollars in FTX customer deposits to cover losses for his hedge fund, Alameda Research, and lied to investors and lenders about the financial status of their companies.
Singh's guilty plea followed those of two of Bankman-Fried's closest associates, Caroline Ellison and Gary Wang, who pleaded guilty to criminal charges in December, Reuters reported.
Singh became FTX's chief technical officer in 2019 after working at Alameda and being close friends with Bankman-Fried's younger brother in high school.
Bankman-Fried has pleaded not guilty. Prosecutors have called on those with knowledge of wrongdoing at FTX to come forward.
US prosecutors' investigation into FTX has expanded as former executives consider cooperating with authorities.
Bankman-Fried, 30, has become an influential US political donor with an estimated net worth of $26 billion thanks to the explosion in the value of Bitcoin (CRYPTO:BTC) and other digital assets.
Singh, who has also become a major donor to Democratic politicians, contributed $8 million to campaigns in the 2022 election cycle, according to OpenSecrets..
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