Former FTX exec Nishad Singh will plead guilty over his role in the crypto exchange's collapse, according to reports, further isolating Sam Bankman-Fried
Former FTX executive Nishad Singh will plead guilty over his role in the alleged fraud scheme that caused the cryptocurrency exchange to collapse, according toThe 27-year-old has been working to strike a plea deal with New York prosecutors as they file charges of fraud against him, Bloomberg said, citing people familiar with the matter. The deal is yet to be finalized, the report said.
The plea deal - which could involve cooperating with authorities - would further isolate the exchange's disgraced founder Bankman-Fried who pleaded not guilty to eight counts of fraud and faces a hefty sentence in prison if convicted. He could still potentially reach a deal with prosecutors ahead of his trial scheduled for October.
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