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.