Nishad Singh, a former member of FTX founder Sam Bankman-Fried’s inner circle, plans to plead guilty to U.S. criminal charges over his role in the collapse of the crypto firm FTX.
According to sources, Singh is negotiating a deal with Manhattan prosecutors as they prepare to file fraud charges against him.
A potential agreement could involve cooperating with authorities and further isolating Bankman-Fried.
- Earlier this year, Bankman-Fried pleaded not guilty to the eight charges against him, including money laundering, conspiracy to commit wire fraud, and securities fraud.
- His trial is slated to begin on Oct. 2.
- The case is being handled by prosecutors from the Southern District of New York.
- In December, two of Bankman-Fried’s top lieutenants, Caroline Ellison and Gary Wang, signed plea deals with prosecutors and were cooperating with investigations.
- Ellison was the former CEO of Bankman-Fried’s hedge fund Alameda Research, and Wang co-founded FTX with Bankman-Fried.
