In New York today at 3pm, Nishad Singh entered a federal courtroom to hear a judge read his final sentencing for the crimes he committed at FTX.

After considering statutory minimums, sentencing guidelines, and other documents filed relevant to the decision, Judge Lewis Kaplan decided to administer a sentence of time served with three years of supervised release, according to reporting from InnerCityPress.

For context, FTX’s former CEO Sam Bankman-Fried received a 300-month prison sentence. Former co-CEO of FTX Digital Markets Ryan Salame received a 90-month sentence. Caroline Ellison, CEO of Alameda Research which stole funds from FTX customers, received a 24-month sentence.

Singh, FTX’s ex-Director of Engineering, pleaded guilty to six crimes last year. He also filed a sentencing submission — and received written support from bankruptcy cleanup lead John J. Ray III — that stressed his post-collapse cooperation with US authorities.

Both asked judge Kaplan to please avoid administering a prison sentence.

However, a filing today from representatives for the former Chief Operating Officer of FTX Japan challenges Singh’s claim that he took steps to preserve funds at FTX Japan, specifically describing Singh’s claims as “completely false.”

Singh’s hearing was scheduled for 3 pm Eastern Time. The judge handed down the sentence shortly after opening comments, recitations, and other formalities.

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Former FTX executive Nishad Singh has received a letter of support from FTX bankruptcy CEO John J. Ray III ahead of his sentencing for his part in the collapsed exchange’s theft of $8 billion in customer funds.

That’s according to Inner City Press and Matthew Russell Lee who shared the letter last night. The letter, addressed to Judge Lewis Kaplan, highlights Singh’s cooperation with debtors, from returning Bahamian real estate that was purchased with debtors’ funds to providing documents and answering questions while under investigation. 

According to the letter, a final settlement between Singh and debtors is in the works. Singh will be required to turn over “all of his remaining assets after satisfying his forfeiture obligations,” testify as needed, and “voluntarily provide documents and information, reviewing and clarifying documents, locating and retrieving assets, and answering questions from the Debtors’ advisors.”

Read more: Nishad Singh hopes to avoid prison in FTX case

Singh, who was FTX’s Director of Engineering, pleaded guilty to six charges last year. He also filed a sentencing submission earlier this month that stressed his cooperation while claiming he should avoid a prison sentence.

Singh’s hearing is scheduled for 3 pm, Eastern Time.

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The post Nishad Singh receives FTX chief’s support ahead of today’s sentencing appeared first on Protos.

Nishad Singh, the former Director of Engineering at FTX, has filed a sentencing submission in his criminal case arguing that he should avoid prison in light of his extensive cooperation and smaller role than many of the conspirators in the fraud.

The documents detail Singh’s roles at Alameda Research and FTX, from almost the beginning of Alameda up until the firms plunged into a chaotic bankruptcy. They detail Singh’s narrative about how he was unaware of the misappropriation of customer funds at FTX until just months before the collapse, though this underplays his role in creating the infamous ‘allow negative’ years before. 

Singh, like other executives, also emphasized that it was recommended to him that he take large, poorly documented loans from Alameda instead of liquidating his tokens to fund his activities. Among his activities described as “regrettable” was the purchase of a multi-million dollar vacation home after he was aware of the theft occurring at FTX. 

Additionally, the document emphasizes how Singh was responsible for providing much of the documentary evidence that prosecutors relied on, including “taking screenshots of Signal messages” that provided context to the prosecution and at trial of the final days of FTX and Alameda.

Read more: CHART: Everyone sentenced from FTX and Alameda

This level of cooperation was recognized by other executives of FTX. Indeed, Ryan Salame once tweeted that Singh “absolutely wrecked him” but that he still had to acknowledge that Singh was “one of the most genuinely nice human beings I’ve ever met.”

This cooperation extended beyond FTX and Alameda Research to “virtual interviews with the Securities and Exchange Commission (SEC) regarding separate inquiries (nor directly related to FTX’s downfall) on three separate occasions, and produced documents in his possession relevant to those inquiries.

Also, just this month, Singh sat for a virtual interview with the Commodity Futures Trading Commission (CFTC) to assist them with a separate, nonpublic investigation.”

This document, meant to gain Singh whatever leniency it can, repeatedly emphasized the purity of his intentions and his many good works. There are letters included from friends, family, and former FTX colleagues, many with stories of Singh’s generosity. 

The document also detailed how Singh tried to dissuade Sam Bankman-Fried from some of his more exceptional spending activities, including reportedly balking at the K5 investment deal and encouraging FTX to end the irresponsible FTX Earn lending program.

Singh’s sentencing is currently scheduled for October 30. 

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