Nishad Singh, a young Indian-origin former top executive of failed cryptocurrency trading platform FTX, has pleaded guilty to the charges of alleged billion-dollar fraud, reported Press Trust of India.
He was the former co-lead engineer of FTX Trading. He has pleaded guilty to six conspiracy charges, including conspiracy to commit wire fraud, conspiracy to commit money laundering and conspiracy to violate federal campaign finances laws.
He is the third top executive and close confidante of FTX founder Sam Bankman-Fried to plead guilty and cooperate with prosecutors.
Gary Wang, co-founder of FTX, and Caroline Ellison, the former head of FTX sister hedge fund Alameda Research, both pleaded guilty last year and are cooperating against Bankman-Fried.
In December last year, federal authorities charged Bankman-Fried with orchestrating a scheme to defraud equity investors in FTX.
The US markets regulator Securities and Exchange Commission (SEC) charged Singh on Tuesday.