Nishad Singh avoids prison sentence for role in FTX

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—by Protos Staff

In New York today at 3pm, Nishad Singh entered a federal courtroom to hear a judge read his final sentencing for the crimes he committed at FTX.

After considering statutory minimums, sentencing guidelines, and other documents filed relevant to the decision, Judge Lewis Kaplan decided to administer a sentence of time served with three years of supervised release, according to reporting from InnerCityPress.

For context, FTX’s former CEO Sam Bankman-Fried received a 300-month prison sentence. Former co-CEO of FTX Digital Markets Ryan Salame received a 90-month sentence. Caroline Ellison, CEO of Alameda Research which stole funds from FTX customers, received a 24-month sentence.

Singh, FTX’s ex-Director of Engineering, pleaded guilty to six crimes last year. He also filed a sentencing submission — and received written support from bankruptcy cleanup lead John J. Ray III — that stressed his post-collapse cooperation with US authorities.

Both asked judge Kaplan to please avoid administering a prison sentence.

However, a filing today from representatives for the former Chief Operating Officer of FTX Japan challenges Singh’s claim that he took steps to preserve funds at FTX Japan, specifically describing Singh’s claims as “completely false.”

Singh’s hearing was scheduled for 3 pm Eastern Time. The judge handed down the sentence shortly after opening comments, recitations, and other formalities.

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