Nishad Singh, the former director of engineering at now-bankrupt cryptocurrency exchange FTX, has pleaded guilty to US criminal charges and agreed to cooperate with prosecutors investigating FTX founder Sam Bankman-Fried.“I am unbelievably sorry for my role in all of this,” Singh said on Tuesday, adding that he knew by mid-2022 that Bankman-Fried’s hedge fund, Alameda Research, was borrowing FTX customer funds and customers were not aware. Singh said he would forfeit proceeds from the scheme.Bankman-Fried pleaded not guilty to eight criminal charges filed against him in December. Prosecutors say he stole billions of dollars in FTX customer funds to plug losses at Alameda. He has acknowledged inadequate risk management but says he did not steal the money.
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