Former FTX engineering director Singh reached a settlement with CFTC, confiscated $3.7 million in illegal proceeds and was subject to multiple bans

According to Bloomberg, the US Commodity Futures Trading Commission (CFTC) announced that it has reached a settlement with Nishad Singh, a former FTX engineering director, over the FTX crash. Under the settlement agreement, Singh was required to return $3.7 million of illegal proceeds, was banned from trading for five years, and was not allowed to register with the CFTC for eight years. In view of Singh's active cooperation in the investigation, the CFTC did not add additional monetary fines or compensation claims.