Overview

Nishad Singh, the former engineering director at FTX, was sentenced to time served by a federal judge, meaning he will not serve prison time unlike some of his former colleagues.

Key Details

Singh, 29, is the fourth FTX executive to be sentenced for their involvement in the fraud scheme.

• Restitution: He was ordered to pay $11 billion in restitution.
• Previous Sentences:
  • Sam Bankman-Fried was sentenced to 25 years for leading the scheme.
  • Ryan Salame, former CEO of FTX Digital Markets, received 7.5 years.
  • Caroline Ellison, ex-Alameda Research CEO, was sentenced to two years last month.

Despite knowing about FTX’s $8 billion deficit by September 2022, Singh purchased a $3.7 million estate shortly before the exchange's collapse.

Judge Lewis Kaplan compared Singh's cooperation with prosecutors favorably to Ellison’s previous involvement in the fraud, suggesting that Singh was relatively uninformed until shortly before FTX's downfall.

Sentencing Reactions

During the hearing, Singh's parents were emotional, relieved to hear he would not be imprisoned. The judge made a personal remark, stating, "I don’t see anything you did wrong," indicating a degree of sympathy towards Singh's situation.