Nishad Singh seeks leniency as sentencing looms in FTX case

Nishad Singh, former head of engineering at FTX (CRYPTO:FTT), has requested leniency ahead of his sentencing on October 30. 

Singh's legal team has asked a New York judge to spare him from prison time, citing his cooperation with investigators and his limited involvement in the events that led to the collapse of the crypto exchange. 

According to Bloomberg, Singh’s attorneys emphasized his efforts to rebuild his life, supported by over 100 letters from family and friends attesting to his character. 

“His role was far more limited than any other defendant,” the legal memo stated, highlighting Singh’s regret for his actions and his guilty plea to serious crimes. 

The lawyers described him as an "uncommonly selfless individual," pointing to his personal history and commitment to positive change.

Singh, a childhood friend of FTX founder Sam Bankman-Fried (SBF), was instrumental in writing the code that allowed Alameda Research, FTX’s sister company, to receive preferential treatment on the platform. 

He also participated in backdating transactions to make the exchange appear financially stronger than it was. 

In February 2023, Singh pleaded guilty to six criminal charges, including conspiracy to commit fraud.

Prosecutors noted that Singh was aware of SBF’s mismanagement of customer funds during FTX’s financial struggles in 2022. 

He reportedly withdrew $6 million for personal use, though he later apologized and promised to repay the money. 

Singh has cooperated with authorities, assisting their investigation into Bankman-Fried and other key figures involved in FTX’s downfall.

SBF is currently serving a 25-year sentence, while other executives, including Ryan Salame and Caroline Ellison, have also received prison sentences for their roles in the scandal. 

Gary Wang, another key figure, is scheduled to be sentenced in November.