Another closer employee of SBF wants to commit himself to the FTX fraud: report

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Von Krypto News Österreich

Nishad Singh, the former technical director of the bankruptcy rotten crypto exchange FTX, is about to complete a plea deal with the federal prosecutor in the current proceedings against the stock exchange and its responsible persons.

according to Bloomberg Report cited the person familiar with the matter, Singh plans to commit to commitment to his role in the FTX saga.

Singh Will Plea Deal concludes with US prosecutors

The report found that Singh negotiated with the public prosecutors of Manhattan about a deal, while the case was intensified against the FTX founder and former CEO Sam Bankman-Fried (SBF).

A plea deal is an agreement between the prosecutor and the accused of criminal proceedings, in which the latter admit to commit a lesser indictment, while the former provides for a milder conviction.

remember that Singh took part in an offer meeting with prosecutors in January when attempts were made to determine whether he had any information that would be useful for the public prosecutor.

Cryptopotato reported that Singh, if helpful information was found, could complete a plea deal with the court in exchange for his collaboration.

unknown sources have now revealed that the possibility of a plea is high, since the former FTX manager plans to admit the charges raised against him.

You also announced that the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (Sec) intend to sue Singh because of its role in FTX fiasco.

The third high -ranking manager who turns against SBF

If Singh's plea gets through with the court, he will be the third high -ranking manager who is guilty of his role in the system and presents evidence against SBF.

Last year the former executives of FTX and Alameda Research, Gary Wang and Caroline Ellison are guilty of complaining about their role in the collapse of FTX. Both managers who were also members of the SBF circle are working with prosecutors in the event of Bankman-Fried.

In the meantime, SBF, which currently has a deposit of $ 250 million, was in prison under Hausarst in the house of his parents and is waiting for the process in October. Interestingly, he refused to commit the same charges.

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