FTX’s Nishad Singh reportedly approaches plea deal

Bloomberg News reported on Feb. 17 that former FTX executives are gearing up for a plea bargain with U.S. prosecutors.

The publication reported that former FTX engineering director Nishad Singh plans to plead guilty as Manhattan prosecutors prepare to file charges.

Based on previous developments, the U.S. Attorney’s Office for the Southern District of New York is investigating. The CFTC and SEC are also reportedly planning charges.

A similar Bloomberg report on Jan. 10 suggested that Singh had discussed a cooperation agreement that would likely lead to a plea bargain. is now said to have been indicted.

None of the above agencies have publicly confirmed Bloomberg’s statement. However, according to reports from the same source, authorities have been investigating Singh since at least January 5. Singh played a key role in developing the software used to transfer funds between FTX and Alameda. He was also involved in raising funds for the campaign.

Information about these and other activities may be useful in criminal proceedings against FTX co-founder and former CEO Sam Bankman-Fried.

If Singh agrees to a plea deal, he would be the third FTX associate to join former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang. Both of them pleaded guilty in December and are cooperating against his Bankman-Fried awaiting trial.