CFTC Finalizes $3.7M Disgorgement Against Former FTX Engineer
- The Commodity Futures Trading Commission (CFTC) has finalized a $3.7 million disgorgement order against former FTX engineering head Nishad Singh, with no civil penalty imposed.
- Singh’s settlement includes a five-year trading ban and an eight-year registration ban.
- The CFTC waived restitution and civil penalties due to Singh’s cooperation in the investigation.
- Three individual cases in the agency’s FTX enforcement docket remain unresolved, with closure estimated by mid-2027.
The CFTC has concluded its first individual case in its ongoing enforcement action against FTX, requiring former engineering head Nishad Singh to pay $3.7 million for purchasing real estate with misappropriated customer funds. This resolution reflects the agency’s focus on incentivizing cooperation during investigations.
With three cases still pending, the full resolution of the FTX enforcement docket is not expected until mid-2027, highlighting the complexity of legal proceedings following the exchange’s collapse in November 2022. (Source)
