FTX ex-engineering chief Nishad Singh pleads guilty to criminal charges

FTX ex-engineering caput Nishad Singh pleaded blameworthy to transgression charges successful New York connected Tuesday, becoming the latest subordinate of Sam Bankman-Fried's erstwhile enactment squad to hold to a deal.

The six charges against Singh see conspiracy to perpetrate securities fraud, conspiracy to perpetrate wealth laundering and conspiracy to interruption run concern laws. FTX spiraled into bankruptcy successful November aft the crypto exchange, founded by Bankman-Fried, couldn't conscionable customers' withdrawal demands.

"Today's blameworthy plea underscores erstwhile again that the crimes astatine FTX were immense successful scope and consequence," Manhattan U.S. Attorney Damian Williams said successful a statement. "They rocked our fiscal markets with a multibillion dollar fraud. And they corrupted our authorities with tens of millions of dollars successful amerciable straw run contributions. These crimes request swift and definite justness and that is precisely what we are seeking successful the Southern District of New York."

The Securities and Exchange Commission, arsenic good arsenic the Commodity Futures Trading Commission some filed related civilian complaints against Singh connected Tuesday. Singh has agreed to settee with the CFTC, a tribunal filing suggests.

Prior to Singh's blameworthy plea with prosecutors, FTX co-founder Gary Wang and erstwhile Alameda Research co-CEO Caroline Ellison some pleaded guilty successful December to national charges successful the Southern District of New York.

Alameda was a hedge money and trading steadfast besides controlled by Bankman-Fried. Prosecutors allege that lawsuit deposits astatine FTX were sent to sister institution Alameda, which faced billions of dollars successful concern losses.

In December, Bankman-Fried was charged with 8 transgression accounts, including securities fraud and money laundering. He was deed past week with 4 additional charges, including ones related to commodities fraud and making unlawful governmental contributions. He's released connected a $250 cardinal enslaved portion awaiting trial.

A typical for Bankman-Fried declined to comment.

Two of the charges against Singh are related to ligament fraud and different is conspiracy to perpetrate commodities fraud.

— CNBC's David Sucherman contributed to this report.