Former FTX engineering director Nishad Singh reportedly testified that SBF “unilaterally spent Alameda’s money” and was “ultimately” in charge of the company instead of Caroline Ellison.
Sam Bankman-Fried’s trial continues and the third week of interrogations began yesterday, in a case during which the accused main colleagues came to testify at the bar. The objective was to show how he committed a miriad of crimes in direct association with the former CEO of the FTX platform. In what could be compared to episode S03E01 of this series of twists, it was the turn of the idealist. Nishad Singh comes and clears his conscience.
Nishad Singh Had a Problem with Sam Bankman-Fried’s “Excessive” Approach
The interrogations follow one another and are very similar in this already emblematic Sam Bankman-Fried’s trail. In fact, his former colleagues and employees are all on the same page about confronting the former FTX CEO with his criminal acts. At last, a pattern emerges from this obscene breakdown of revelations. with billions of dollars. The one the media liked to call the youngest billionaire on the planet had lost all contact with reality.
This was highlighted in the former engineering director of the FTX platform’s statements made yesterday. Indeed, Nishad Singh is considered in this file as an active member of the decision-makers’ restricted circle of this nebula with dark outlines. However, contrary to the case of Carolina Ellison O Gary Wang, Singh was immediately presented by the prosecutor as the last moral defense still standing in the face of the numerous detours of this ship in trouble, an uncomfortable position for the young man.
Singh, however, showered like the others with billions of dollars from FTX clients, all with the help of loans of enormous amounts. However, his guilty conscience finally pushed him to try – in vain – to resign.
SBF at the Head of Trade Agreements for Billions of Dollars
From the top of his scratched good conscience, Nishad Singh seems to have a fairly complete view of the questionable practices related to the management of the FTX platform.
In fact, during his interrogation he returned to the numerous agreements that Sam Bankman-Fried had established with important personalities, a file once again worth more than a billion dollars. There are names like the Miami Heat, Steph Curry, Kevin O’Leary, Tom Brady, the model Gisele Bundchen, the actor Larry Davidm, or the “supernetworkers” Michael Kives, and Bryan Baum through their company K5 Global.
It was with the help of a simple spreadsheet that Nishad Singh listed the $135 million invested to rename a famous Miami sports complex to FTX Arena. Addtionally, it is worth mentioning the #28 million paid to the basketball player Steph Curry, or even the billion dollars that Sam Bankman-Fried wanted to invest in K5 Global venture capital company.
“Sam sent Gary and me a term sheet to give millions in bonuses to Michael Kives and Bryan Baum, as well as a billion investment in this venture capital firm. I asked that this be done with Sam’s money and not FTX’s money. »
Evidently, all these operations were carried out within the framework of organized fraud with the FTX platform clients’ funds. Suffice it to say that the many beneficiaries of Sam Bankman-Fried’s generosity must break out in a cold sweat at the mention of their names.
By Leonardo Pérez
