Nishad Singh falls in line with his former colleagues.
Singh with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. According to the SEC:
“Singh also knew or was reckless in not knowing that, more generally, Bankman-Fried often operated the companies [FTX and Alameda Research] without regard for responsible corporate controls and appropriate conduct.” Singh did not contest the CFTC charges and has agreed to enter a proposed consent order, that agency reported. According to the SEC, Singh has
to a bifurcated settlement, imposing a number of conditions on him, subject to court approval. “He will be permanently enjoined from violating the federal securities laws, the above-described conduct-based injunction, and an officer and director bar,” the SEC said.The court will also decide on whether he is subject to “disgorgement of ill-gotten gains plus prejudgment interest and/or a civil penalty.
⏰ JUST IN: Former FTX execs Nishad Singh pleaded guilty to criminal charges today in a New York court.
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