We aren’t just talking about SBF, as the whole affair included other insiders who were arguably as ‘true believers’ in EA as it is reasonable to expect (like Caroline Ellison)
Are there actually any other examples beyond SBF and his on-and-off romantic partner? I’d be a lot more concerned if there were several EAs independently plotting fraud who then joined forces, but that doesn’t seem to be the case.
Nishad Singh pleaded guilty to several counts of conspiracy charges early this year.
Nishad Singh, the former director of engineering at FTX, pleaded guilty to six conspiracy charges, including conspiracy to commit wire fraud, conspiracy to commit money laundering and conspiracy to violate federal campaign finances laws.
Singh is the third top executive and close confidante of FTX founder Sam Bankman-Fried to plead guilty and cooperate with prosecutors. Gary Wang, co-founder of FTX, and Caroline Ellison, the former head of FTX’s sister hedge fund Alameda Research, both pleaded guilty last year and are cooperating against Bankman-Fried.
Edit: Nishad knew by mid-2022 that Alameda was using FTX customer funds:
“I am unbelievably sorry for my role in all of this,” Singh said, 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 that he would forfeit proceeds from the scheme. (Reuters)
I think that it has been said that among the leadership, Nishad Singh was pretty close to EA too. Further down the line, it is commonly said that Alameda especially attracted a lot of EA people as it was part of its appeal from the beginning. Needless to say, though, these people would have been completely in the dark about what was happening until they were told, in the very end.
Are there actually any other examples beyond SBF and his on-and-off romantic partner? I’d be a lot more concerned if there were several EAs independently plotting fraud who then joined forces, but that doesn’t seem to be the case.
Nishad Singh pleaded guilty to several counts of conspiracy charges early this year.
Source
Nishad is reported to have been very into EA.
Edit: Nishad knew by mid-2022 that Alameda was using FTX customer funds:
I think that it has been said that among the leadership, Nishad Singh was pretty close to EA too. Further down the line, it is commonly said that Alameda especially attracted a lot of EA people as it was part of its appeal from the beginning. Needless to say, though, these people would have been completely in the dark about what was happening until they were told, in the very end.