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Indian-origin engineer at FTX, Nishad Singh, pleads guilty to fraud charges
A 27-year old Indian-origin engineer at a crypto asset trading platform has pleaded guilty to charges of commodities fraud.
Nishad Singh was the former co-lead engineer of FTX Trading Ltd. He is facing federal charges for his role in a multiyear scheme to defraud equity investors in FTX, the crypto trading platform started by Singh along with Samuel Bankman-Fried and Gary Wang.
In December last year, federal authorities had charged Bankman-Fried with orchestrating a scheme to defraud equity investors in FTX.
The Securities and Exchange Commission charged Singh Tuesday. In a parallel action, the US Attorney's Office for the Southern District of New York and the Commodity Futures Trading Commission (CFTC) also announced charges against Singh.
Singh entered a guilty plea as to commodities fraud and other charges in the separate, parallel action against him in the Southern District of New York.
According to the SEC's complaint, Singh created a software code that allowed FTX customer f