Nishad Singh, former engineering boss at FTX, got off lightly. No jail time, just three years of supervision. Why? He cooperated with the government, helping unravel the crypto exchange's fraud. The judge praised his limited role compared to others like FTX founder Sam Bankman-Fried. Singh also forfeited $11 billion. Singh pleaded guilty to six charges, including se...
Nishad Singh, the former head of engineering at FTX, received no jail time and three years of supervised release on Wednesday. Instead of the maximum 75 years, he was ordered to forfeit $11 billion. Judge Lewis Kaplan praised Singh’s cooperation with the government, noting it was “remarkable. ” Sing was involved in the fraud, but Judge Kaplan believed his role was le...
Molly White, a software engineer and well-known critic of the crypto industry, runs a website called Web3 Is Going Just Great. She recently wrote about the arrest of Roman Ziemian, the founder of crypto trading platform FutureNet. This platform is accused of defrauding people out of $21 million. White's website often exposes frauds, hacks, and scams in the crypto wor...
A cryptocurrency CEO, Horst Jicha, has vanished just before his trial in Brooklyn Federal Court. He was accused of stealing $150 million from investors. Jicha, a German citizen, ran a European company called USI Tech. This company promised investors a daily return of 1% on their bitcoin investments over 140 days. Unfortunately, it turned out to be a scam. After regul...
In the Metropolitan Detention Center of Brooklyn, two notable figures are sharing a dormitory-style room. The rapper Sean Combs, known as Diddy, has been denied bail on serious charges like sex trafficking and racketeering. He's been there for almost a week. His new roommate is Sam Bankman-Fried, the disgraced crypto mogul who stole $8 billion from his FTX exchange c...
In a surprising turn of events, Sean "Diddy" Combs, the famous rapper, is currently serving time in a New York City jail alongside another high-profile inmate, Sam Bankman-Fried, the disgraced FTX founder. Both men are being held in a high-security unit at Brooklyn's Metropolitan Detention Center. This unexpected pairing has raised eyebrows, especially given the vast...