FTX’s Nishad Singh Avoids Jail Time, Receives 3 Years of Supervised Release for Role in Crypto Fraud

Nishad Singh, the former chief engineer at the cryptocurrency exchange FTX, has been spared prison time for his role in the multibillion-dollar fraud that led to the collapse of the company. On October 30, 2024, Singh was sentenced to three years of supervised release, avoiding any jail time.

Singh’s lenient sentencing is largely attributed to his cooperation with authorities. He had pleaded guilty to his involvement in the fraud and provided significant assistance to the prosecution, which included testifying against other key figures in the case.

The case against FTX and its executives, including Sam Bankman-Fried, has been one of the most high-profile in the cryptocurrency sector. Singh’s role as a top lieutenant to Bankman-Fried made his cooperation particularly valuable to investigators.

The sentencing marks a significant development in the ongoing legal battles surrounding FTX’s collapse. It highlights the importance of cooperation in securing favorable outcomes for those involved in the fraud).