“FTX Exec Nishad Singh Reportedly Nears Plea Deal”

Nishad Singh, a former top employee of FTX, is reportedly preparing to reach a plea deal with U.S. prosecutors. According to Bloomberg News, Manhattan prosecutors are preparing to file charges against Singh. The CFTC and SEC are also said to be involved in the case, which has been under investigation by the U.S. Attorney’s Office for the Southern District of New York since January 5. Singh was involved in developing software used to transfer funds between FTX and Alameda, as well as campaign financing. If a plea deal is reached, he will be the third FTX associate to do so after Caroline Ellison and Gary Wang, who both pled guilty in December and are cooperating against Sam Bankman-Fried, the former CEO of FTX.

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Nishad Singh, a former top employee of FTX, is reportedly preparing to reach a plea deal with U.S. prosecutors. According to Bloomberg News, Manhattan prosecutors are preparing to file charges against Singh. The CFTC and SEC are also expected to file charges.

Previous reports from Bloomberg suggest that Singh had discussed a cooperation deal that could lead to a plea deal. However, it appears that he is now facing charges. None of the agencies involved have confirmed Bloomberg’s statements.

Singh was involved in developing software used to transfer funds between FTX and Alameda, as well as campaign financing. This information could be used in the criminal case against Sam Bankman-Fried, FTX’s co-founder and former CEO.

If Singh reaches a plea deal, he will be the third FTX associate to do so after former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang. Both individuals pled guilty in December and are cooperating against Bankman-Fried, who awaits trial.