US prosecutors have requested that the court favorably consider former FTX executive Nishad Singh’s “substantial assistance” during their investigation into the failed crypto exchange, according to an Oct. 23 court filing.
The prosecutors noted that he approached his cooperation with genuine remorse and a strong desire to help. According to the authorities, Singh’s “exemplary cooperation” played a pivotal role in helping the government uncover how FTX’s systems enabled the misuse of customer funds.
Singh’s extensive cooperation
They furthered that Singh also provided detailed information on Sam Bankman-Fried‘s involvement in transactions that involved stolen money.
They stated that Singh’s cooperation went further. He revealed illegal activities the government had not previously uncovered, such as Ryan Salame‘s and Bankman-Fried’s participation in one of the largest campaign finance violations in history. He also exposed how Bankman-Fried falsified FTX’s financial statements to make the company appear more profitable than it was.
The authorities added:
“Subsequent to his guilty plea, Singh met with the Government at least 20 times, and spent additional time outside of these meetings reviewing computer code, documents, emails, Signal messages, and spreadsheets in order to identify and decode relevant documents for the Government.”
What does this mean for Singh?
As a result of Singh’s cooperation, prosecutors have asked the court to consider sentencing Singh under Section 5K1.1 of the US Sentencing Guidelines. This section allows for a reduced sentence when the defendant has provided substantial assistance in the investigation or prosecution of others involved in criminal activit
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Author: Oluwapelumi Adejumo
