Singh was identified by whistleblower Ryan Salame, co-CEO of FTX Digital Markets as one of three people who could have allowed the theft of the exchange customers' funds.
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A third member of FTX founder Sam Bankman-Fried's innermost circle is being investigated by federal prosecutors looking into the collapse of the second-largest crypto exchange in a torrent of fraud allegations.
No charges have been filed against Singh, Bloomberg said — and it isn't clear if he is cooperating with prosecutors like Wang and Ellison.
A day later, Bloomberg reported that it had reviewed code in a GitHub account in Singh's name that allowed FTX to hide Alameda's ballooning losses.
The second chunk of code allowed Bankman-Fried's firms to shunt billions of dollars in debt "to an FTX customer account that wasn't easily identifiable as belonging to Alameda," Bloomberg said.
This was, it said, the "Korean" account referred to by the U.S. Commodity Futures Trading Commission (CFTC) in its own Dec. 13 fraud lawsuit. The agency said:
"At least in part to remediate the risk that Alameda's large liability would be discovered, at Bankman-Fried's direction, FTX executives reallocated Alameda's approximately $8 billion in liabilities to a customer account on FTX's systems that Bankman-Fried would later refer to as 'our Korean friend's account' and/or 'the weird Korean account.' This was technically a sub-account of Alameda, but unlike other Alameda sub-accounts on FTX, it was not … readily identifiable as being an Alameda-associated account. The system notes associated with the account described it as "FTX fiat old." As a result, it was no longer apparent on FTX's ledgers that Alameda had an $8 billion negative balance on its FTX account."