New development in the FTX scandal: Former executive requests clemency.

After the FTX scandal that shook the cryptocurrency world, an unexpected development is emerging in the ongoing legal process. Lawyers for Nishad Singh, one of the former top executives of the exchange, made a bold move to prevent their client from receiving a prison sentence. The defense argues that Singh is in a different position than the other defendants and that he joined the conspiracy at the center of the case late.

The Court Will Announce Its Critical Decision on October 30

In the application, Singh's lawyers stated that he is in a "different situation" than the other former FTX executives and that he is an "extraordinarily selfless individual." The lawyers expressed, "Simply put, his role was much more limited than that of any other defendant. He does not downplay his behavior; he admitted serious crimes at the beginning of this case."

In February 2023, Singh pleaded guilty to six charges, including conspiracy to commit fraud and money laundering. Later, in October 2023, he testified against Sam Bankman-Fried.

In another letter written to the judge on Wednesday, Singh stated that he is "deeply sorry" for the people he has hurt. "When I try to think about the magnitude of the harm I caused and was involved in, I feel overwhelmed and nauseous," he said.

Singh's lawyers argued that their client joined the conspiracy at the center of this case only by September 2022, just two months before the collapse of FTX. The lawyers emphasized, "Nishad was not part of this behavior. His role was almost entirely passive."

The defense team also stated that Singh was cooperative with the investigations. "When customers began withdrawing their funds from FTX, Nishad separated himself from Bankman-Fried and other employees who were making misleading statements trying to convince customers not to withdraw their money," they said.