Nishad Singh has agreed to pay $3.7 million to settle his case with U.S. regulators over the collapse of FTX.
The payment is part of a deal with the Commodity Futures Trading Commission (CFTC), which accused him of being involved in the misuse of customer funds.
Along with the fine, Singh is also facing restrictions on his future in the industry. He’s been banned from trading for five years and cannot register or work in regulated financial markets for eight years.
Despite the seriousness of the case, regulators decided not to add extra penalties for now. According to enforcement officials, that decision was influenced by Singh’s cooperation during the investigation.
Authorities said he played a role in major violations tied to FTX, including helping enable the misuse of customer money. He faced charges related to fraud and assisting fraudulent activity but chose to settle and work with investigators instead of fighting the case.
Singh had already avoided prison earlier, receiving three years of supervised release. This latest agreement helps close another chapter in the fallout from FTX’s collapse.
Meanwhile, Sam Bankman-Fried, the former CEO of FTX, is still dealing with his own legal battle. He is currently serving a 25-year prison sentence but is now asking for a new trial, arguing that important witness testimony was left out of his original case.
Overall, this settlement shows how regulators are continuing to clean up the aftermath of FTX—holding key figures accountable, while also recognizing cooperation when it happens.
, which accused him of being involved in the...){kind=link}