The United States Commodities and Futures Trading Commission (CFTC), Securities and Exchanges Commission (SEC), and the Southern District of New York (SDNY) are investigating the disappearance of Nishad Singh, a former executive at the now-bankrupt crypto exchange FTX.
Singh served as the Director of Engineering at FTX before the platform declared bankruptcy and has been missing since.
The authorities are reportedly looking into Singh’s role in FTX’s collapse and his receipt of over $500 million in loans from Alameda.
Singh also held a 7.8% stake in the exchange and donated nearly $8 million to Democrats during the 2022 election cycle.
He was one of three executives who had access to the code for transferring FTX funds, alongside former CEO Sam Bankman-Fried and Gary Wang.
If Singh is found to have played a part in the scheme to defraud investors, he could face charges by the end of this month.
Bankman-Fried has pleaded not guilty to eight counts of criminal and electoral fraud and is set to go to trial on October 2, 2023.
Caroline Ellison and Gary Wang have both pleaded guilty to their roles in the collapse of FTX and agreed to work with law enforcement agencies, potentially testifying against Bankman-Fried in the trial.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
Related posts
Pixelverse Announces Play-to-Airdrop Campaign with 10 Million $PIXFI Token Distribution
Financial Freedom Unlocked: “Investing, Crypto, and Financial Freedom” Becomes a Bestseller
Liquid Mercury Partners with GFO-X to Provide RFQ Platform for Trading Crypto Derivatives
