FTX Exec loses $ 3.7 million island house to authorities 5 months after purchase

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Nishad Singh-senior engineer from FTX-bought a holiday home worth $ 3.7 million on the San Juan Islands last October. Now the property was confiscated by the US government.

The house-bought about two weeks before the bankruptcy of FTX-is located on a forested hill and has six bedrooms, a sports pool and a whirlpool.

  • Singh was forced to give up the house for guilty Transfer fraud, money laundering and violations of campaign financing.
  • Although the 27-year-old Singh bought the house with money from his FTX account, the authorities believe that these funds are directly related to his crimes.
  • The public prosecutors claim that Bankman-Fried and his employees have distorted funds on the stock exchange for personal use and for trade at Alameda Research-an assertion Style = "Font-Weight: 400"> by FTX confidence manager John Ray.
  • A charity connected to FTX seemed to have used means buy in the Czech republic July 2022.
  • Singh was also forced to lose a non-mentioned amount of stocks Bloomberg . Sam Bankman-Fried saw his Robinhood shares worth $ 470 million confiscated from the doj in February.
  • Bankman-Fried has known his not guilty 12 charges but his colleagues-including Singh, ftx-co-founder Gary Wang and Caroline Ellison, CEO of Alameda Research - all stood the crime, with the former received a lower punishment as a return for an early request.

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