An ex-FTX executive who testified against the cryptocurrency firm’s founder at his trial last year was spared a prison sentence by a federal judge on Wednesday. Nishad Singh, the company’s former engineering director, was commended by Judge Lewis A. Kaplan for his substantial cooperation in the case.
Judge Kaplan noted that Singh was not aware of the billions of dollars that were misappropriated from FTX customer accounts and investors until shortly before the fraud was exposed. Singh, 29, testified at the trial of FTX founder Sam Bankman-Fried, expressing shock and remorse upon discovering the extent of the fraud within the once-celebrated firm.
