Former FTX Engineer Nishad Singh Fined $3.7M in CFTC Fraud Case
Cointelegraph
Former FTX engineering head Nishad Singh will pay $3.7 million to resolve CFTC fraud charges related to the exchange's collapse.Summary
Nishad Singh, the former head of engineering at FTX, has agreed to pay $3.7 million to settle a lawsuit with the U.S. Commodity Futures Trading Commission (CFTC). The settlement, which includes a five-year trading ban and an eight-year registration ban, resolves allegations that Singh participated in the misappropriation of user funds during his time at the failed crypto exchange. The CFTC noted that the penalty reflects Singh's significant cooperation with authorities throughout their investigation. This resolution follows Singh's previous cooperation with federal prosecutors, where he testified against former CEO Sam Bankman-Fried, ultimately resulting in a sentence of time served and supervised release.
(Source：Cointelegraph)