Former FTX engineering director Nishad Singh has pleaded guilty to six previous criminal charges brought by the US. But the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) charged Nishad Singh with fraud on Tuesday. According to the CFTC's allegations, Nishad Singh had transferred $8 billion of Alameda's debt to a customer account to prevent Alameda from paying interest on its large outstanding balance. The SEC accused Singh of mobilizing funds at Bankman-Fried's request to make it appear that FTX was generating more revenue than it actually was in 2021.