FTX's former head of engineering, Nishad Singh, pleaded guilty to the six criminal charges against him in New York.
The charges were similar to those filed against Sam Bankman-Fried (who previously pleaded not guilty), including conspiracy to commit money laundering, securities fraud, and conspiracy to violate campaign finance laws.
Despite Bankman-Fried continuing to plead his innocence, most members of his team that have been arrested and had charges filed against them in the United States have entered into plea agreements. Gary Wang, an FTX co-founder, and Caroline Ellison, co-CEO of Almeda Research, pleaded guilty.
- Bankman-Fried is still facing 12 criminal charges, including eight filed in December 2022 and four filed last week. He is currently released from custody on a $250M bond.
- In addition to the criminal charges, Singh faced civil complaints from the Securities and Exchange Commission and Commodity Futures Trading Commission. His lawyers announced that he has agreed to settle with the CFTC, and the SEC said that he is currently cooperating with that agency, although a settlement hasn't been reached.
- Damian Williams, the United States Attorney for the Southern District of New York, said that the guilty plea further evidences the widespread fraud perpetrated by FTX.
