Former FTX Engineering Chief Ordered to Pay $3.7 Million in CFTC Case

FTX collapsed in November 2022, exposing the diversion of customer funds to affiliate Alameda Research in one of the crypto industry's largest fraud cases. Former engineering chief Nishad Singh pleaded guilty to six criminal charges on February 28, 2023. After helping prosecutors build their case against founder Sam Bankman-Fried, Singh was sentenced on October 30, 2024, to no additional prison time.

The U.S. Commodity Futures Trading Commission said on April 1, 2026, that a federal court in the Southern District of New York had approved a supplemental consent order requiring Singh to disgorge $3.7 million in ill-gotten gains. The order also imposed a five-year trading ban and an eight-year registration ban, both effective from April 13, 2023. In light of his continued cooperation, the CFTC is not seeking restitution or an additional civil monetary penalty, bringing its enforcement case against him to a close.