Ex-FTX executive spared prison sentence after cooperating against Sam Bankman-Fried

Associated Press

NEW YORK (AP) — An ex-FTX executive who testified against the cryptocurrency firm’s founder at his trial last year has been spared a prison sentence. A federal judge on Wednesday credited the leniency shown to Nishad Singh’s substantial cooperation and the fact that he arrived late to the multibillion dollar fraud. Singh was the company’s former engineering director. He was sentenced Wednesday by federal Judge Lewis A. Kaplan in Manhattan. The 29-year-old Singh testified a year ago at FTX founder Sam Bankman-Fried’s trial. Singh says he was “blindsided and horrified” when he saw the extent of the fraud behind the once-celebrated and firm. Bankman-Fried is serving a 25-year sentence.