Nishad Singh, FTX's former engineering head, testified on Monday about Sam Bankman-Fried's 'excessive' spending
The criminal trial of FTX founder Sam Bankman-Fried continued on Monday, with the crypto firm's former engineering director Nishad Singh taking the stand.
Nishad Singh, former director of Engineering at FTX Cryptocurrency Derivatives Exchange, arrives at court in New York, on Monday, Oct. 16, 2023.Nishad Singh, FTX's former director of engineering, told jurors on Monday that Sam Bankman-Fried, the founder of the failed crypto exchange, spent huge sums of money on everything from real estate and venture investments to campaign donations and celebrity endorsements.
Assistant U.S. Attorney Nicolas Roos questions Nishad Singh, the former director of engineering at FTX, at Sam Bankman-Fried's fraud trial over the collapse of FTX, the bankrupt cryptocurrency exchange, at Federal Court in New York City, October 16, 2023 in this courtroom sketch.Regarding the technology at FTX and Alameda, Singh said, "Sam didn't code himself but he was very involved in the coding process" and the minutiae of the architecture.
Singh said he told Bankman-Fried he was very concerned and that the K5 investment was "value extractive." He also said he asked Bankman-Fried if the investment was his with his money, not FTX's. The spreadsheet showed it came from Alameda.
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FTX’s former head of engineering Nishad Singh is testifying against Sam Bankman-Fried.The FTX fraud trial continues, now with testimony from Singh, who’d owned 7.8 percent of the company and pleaded guilty to fraud charges in February. He’s admitted on the stand to committing fraud and campaign finance violations in a conspiracy with SBF, Alameda Research CEO Caroline Ellison, FTX CTO Gary Wang, and others.
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Nishad Singh testifies on Sam Bankman-Fried's 'excessive' investments through AlamedaOn the ninth day of Sam Bankman-Fried's criminal trial, former FTX engineering director Nishad Singh admitted to committing crimes and testified regarding Alameda's investments.
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Sam Bankman-Fried requests long-acting Adderall to focus during trialLawyers for Sam Bankman-Fried have asked if he can take extended-release Adderall as the FTX founder is unable to properly focus during trial hours.
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Sam Bankman-Fried needs more Adderall to stay focused during criminal trial, his lawyer saysBarnini Chakraborty is the senior investigations reporter at the Washington Examiner. She has previously worked at Fox News as a senior features and politics reporter. She's also worked at Fox Business as a field producer and at Dow Jones. She began her career at the Augusta Chronicle in Georgia.
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