U.S. prosecutors are reportedly investigating a third member of Sam Bankman-Fried’s inner circle.
Prosecutors are investigating bankrupt cryptocurrency exchange FTX’s former engineering director, Nishad Singh, to see if he had a role in the alleged fraud conducted by FTX and its affiliated trading firm Alameda Research, Bloomberg reported Friday (Jan. 6), citing unnamed sources.
The Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) are also investigating Singh, according to the report.
Singh hasn’t been accused of wrongdoing and it is not known if he is cooperating with authorities.
Related: US Seized Shares & Accounts Linked To FTX
Singh once lived with Bankman-Fried in a Bahamas penthouse and was part of Bankman-Fried’s inner circle along with former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang, according to the report.
Ellison and Wang pleaded guilty in December to charges levied against them for their roles in the implosion of FTX and its affiliated companies and are cooperating with authorities.
The two will likely be key witnesses in the trial of Bankman-Fried, given their proximity to him, knowledge of the inner workings of FTX, admissions of guilt and their stated willingness to cooperate with the prosecution.
In a public video regarding the FTX case that was posted Dec. 21, U.S. Attorney Damian Williams said, “Today’s announcement will not be our last. If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it. We are moving quickly and our patience is not eternal.”
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI