Nishad Singh, the former engineer participated in the FTX probe “proffer session.”
The investigators are looking into FTX’s extensive history of political campaign contributions.
Sam Bankman Fried’s (SBF) former roommate and confidant is reportedly looking to secure a plea deal. Nishad Singh, the former engineering chief at FTX, reportedly met with federal prosecutors to join Bankman Fried’s inner circle and negotiate a cooperation agreement in the fraud case involving the collapse of the cryptocurrency exchange.
According to a report from Bloomberg, Nishad Singh had a “proffer session” with prosecutors. Individuals are frequently given limited immunity to share with prosecutors what they know at such meetings. At the same time, Caroline Ellison, former CEO of Alameda Research, and Gary Wang, former CTO of FTX, have admitted guilt in connection with allegations of fraud.
Prosecutors’ Eyes on FTX’s Political Contributions
Since Bankman-Fried is accused of breaking campaign finance laws, prosecutors are concerned about Singh’s perspective on FTX’s campaign donations. Singh has personally contributed to politics over the years in a significant way. This may be able to shed some light on FTX’s political giving to the government. If his information is deemed valuable, his cooperation and information may result in him accepting a plea agreement.
Since 2020, Singh has donated more than $9.3 million to Democratic-aligned initiatives. In April 2021, Singh gave $1 million to Mind the Gap, a political action committee founded by SBF’s mother. Further, Singh received $543 million in loans from Alameda Research, according to court records dated November. The former FTX affiliate is listed as lending $4.1 billion to connected parties.
Moreover, Singh is also being investigated by the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), according to Bloomberg.
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