•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Matthias Knab, Opalesque:

The Commodity Futures Trading Commission (CFTC) has announced that the U.S. District Court for the Southern District of New York entered a supplemental consent order against Nishad Singh, former head of engineering at collapsed crypto exchange FTX.

The supplemental order imposes disgorgement of $3.7 million and requires Singh to continue cooperating with the Commission. It also imposes a five-year trading ban and an eight-year registration ban, both measured from the date of entry of the initial consent order.

The initial consent order was entered in April 2023, finding Singh liable on both counts of the CFTC's complaint - fraud by misappropriation and aiding and abetting such fraud. That order permanently enjoined Singh from violating the antifraud provisions of the Commodity Exchange Act and Commission regulations as charged, and from willfully aiding and abetting such violations.

The supplemental and initial consent orders together resolve the CFTC's full enforcement action against Singh.

The supplemental consent order acknowledges that the Commission is not seeking restitution or a civil monetary penalty at this time. This decision was based in part on Singh's c......................

To view our full article Click here