Nishad Singh avoids prison time for role in FTX fraud after cooperating with authorities

Nishad Singh, a former executive at FTX, received no prison time for his involvement in the theft of $8 billion in customer funds. A judge in Manhattan credited Singh for cooperating with authorities and testifying against FTX founder Sam Bankman-Fried. Singh pleaded guilty to six felony counts and admitted to participating in one of the largest financial frauds in U.S. history. He expressed remorse for his actions and stated he had a limited role compared to Bankman-Fried and another executive, Caroline Ellison. Bankman-Fried is currently serving a 25-year sentence for his role in the FTX collapse. Singh's cooperation helped the government in its investigation and recovery efforts for victims. Another former FTX executive, Gary Wang, is set to be sentenced next month.