Ex-congressional candidate and FTX executive’s romantic partner indicted on campaign finance charges

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Former FTX exec’s domestic partner indicted on campaign finance charges.

Nishad Singh, a former executive at the now-defunct cryptocurrency exchange FTX, avoided additional jail time on Wednesday after a federal judge credited his "remarkable" cooperation with prosecutors in the multi-billion dollar fraud case.

Singh, a childhood friend of Sam Bankman-Fried who'd go on to share a $35m Bahamas penthouse with the FTX founder, ultimately became a prosecution witness against the latter after accepting a plea deal in which he pleaded guilty to six felony counts of fraud and conspiracy. In part due to Singh's testimony, Bankman-Fried was sentenced to 25 years' imprisonment earlier in the year.

The Guardian

Coindesk

Prior to Singh's sentencing, defense attorney Andrew Goldstein called for no jail time, stating that his client only knew of the wrongdoing two months before the collapse of FTX. Assistant US Attorney Nicolas Roos also called for leniency, stating that without Singh's testimony, certain crimes — including his own — would never have been revealed.

At a hearing in Manhattan federal court on Wednesday, US district judge Lewis Kaplan agreed. "You did the right thing," Kaplan told Singh. "You immediately and truthfully, as far as I can see, fully unburdened yourself to the government about wrongdoing about which you were aware and which they quite clearly were not."

Last month, Kaplan also showed leniency to Caroline Ellison — former CEO of sister company Alameda Research and a one-time girlfriend of Bankman-Fried — for her cooperation, sentencing her two years' imprisonment. However, on Wednesday he drew a distinction between her case and Singh's, stating: "She was involved from the beginning. She knew for years."

In spite of the lack of jail time, Singh was sentenced to time served, three years of supervised released and was ordered to forfeit $11B in assets.

Former FTX Executive Avoids Jail After Cooperating

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Former FTX Executive Avoids Jail After Cooperating

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