According to reports, US law enforcement officers are looking into Nishad Singh, who used to be the director of engineering at FTX. Details from another article published on January 10, 2023, show that federal prosecutors met with delegates at an alleged session of negotiations held in the US Attorney’s Office for the Southern District of New York. It has also been revealed that an investigation into the suspected fraud at FTX is underway and the Southern District of New York may soon be draining its resources.
Former FTX Director Nishad Singh Investigated By SDNY Prosecutors, Sam Bankman-Fried May Be Isolated Through Possible Cooperation
Five days ago, a report was released that Nishad Singh, the former director of engineering at FTX, was being monitored by US law enforcement officials since the beginning of the year by the Southern District of New York (SDNY). The information was sourced from “persons familiar with the matter” and Singh’s recent activities are still unknown.
What is known about the previous FTX engineering director is that he has donated $9.3million to charity and Democratic political candidates since 2020. Documents from FTX’s platform code state that Singh contributed to it before Alameda Research, who borrowed $543 million, was declared bankrupt.
*THIRD BANK ASSOCIATE-FRIED NISHAD SINGH MEETS WITH US PROSECUTORS
— zerohedge (@zerohedge) January 10, 2023
On Tuesday, another report was published by Bloomberg which provided more details on Singh. He was seen in the Southern District of New York (SDNY) and had negotiation sessions together with local law enforcement. It is common for negotiation sessions to give suspects or defendants a chance to reduce their criminal exposure, but they may not always work. The documents and disclosures of alleged meetings also included information from “persons familiar with the matter”.
Bloomberg’s Ava Benny-Morrison further detailed that if Singh, as a co-founder of FTX, cooperates, Gary Wang, the former CEO of Alameda, and Caroline Ellison could leave SBF’s Sam Bankman-Fried “increasingly isolated.” Benny-Morrison contacted the US Attorney’s Office for the Southern District of New York for more information, but both Singh’s attorney, Andrew D. Goldstein, and the offices “declined to comment.”
In addition to the alleged negotiation session with Singh, prosecutors of the SDNY, Fox Business Network’s Charles Gasparino detailed this week how prosecutors complained that resources may be exhausted during the fraud investigation involving FTX and SBF.
“Prosecutors are telling lawyers related to [the Sam Bankman-Fried] fraud investigation the case is so extensive that it could strain the resources of the Southern District as it includes possible bribery, campaign contribution violations, market manipulation as well as theft [and] fraud”, Gasparino wrote Monday. Several joked about the government, while others laughed at SBF. “Exhausting resources is what SBF seems to be best at,” one person commented.
What are your thoughts on this story that Nishad Singh was seen at negotiation sessions in New York talking with federal law enforcement officers? Let us know in the comments below.