A key member of the FTX core team, Nishad Singh, who was the director of engineering until FTX collapsed in early November, met US federal prosecutors last week, sparking speculations that he might provide details of wrongdoings committed by former CEO Sam Bankman-Fried, media reports said. Nishad was also one of Bankman-Fried’s housemates.
Nishad is the third key member of Bankman-Fried’s team to have met the prosecutors. Earlier, co-founder Gary Wang and the CEO of now-defunct Alameda Research, Caroline Ellison, have pleaded guilty and are cooperating with the investigators. In their indictment, federal prosecutors have brought eight charges on Bankman-Fried. Incidentally, Nishad has not been indicted by the federal prosecutors.
Singh attended a proffer session at the Attorney’s Office of the Southern District of New York. As per media coverage, such meetings lead to limited immunity to the individual for sharing information that may help the investigation.
Among other charges, prosecutors are investigating if Bankman-Fried violated federal campaign finance laws in making political donations, which reportedly amount to over $70 billion. It is believed that Singh may have promised to share some key information about SBF’s political donations.
Singh’s donations to initiatives having links with the Democratic party are to the tune of $9.3 million since 2020. According to documents, Singh received $549 million in loans from Alameda Research.
