Nishad Singh, former director of engineering at FTX and a one-time member of Sam Bankman-Fried’s inner circle, was sentenced to time served by a federal judge on Wednesday, meaning he's not going to prison like his former colleagues.
He was also ordered to pay $11 billion in restitution.
Singh, 29, who pleaded guilty to six criminal counts including wire fraud and conspiracy in February, is the fourth FTX executive to be sentenced for his role in the fraud. Bankman-Fried was sentenced to 25 years in prison in March for his role as ringleader. Former FTX Digital Markets CEO Ryan Salame, who did not testify against Bankman-Fried, recently began serving his 7.5 year prison sentence. And Caroline Ellison, former Alameda Research CEO and one-time girlfriend of Bankman-Fried, was sentenced to two years by the same judge, District Judge Lewis Kaplan of the Southern District of New York (SDNY), last month – her sentence heavily discounted by her prompt and extensive cooperation with prosecutors.
Though Kaplan sounded sympathetic to Ellison during her sentencing last month, he contrasted her long-time involvement in and awareness of Bankman-Fried's fraud with Singh, who was out of the loop until only two months before the exchange collapsed.
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