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American authorities seize FTX villa

After FTX's bankruptcy, authorities seize the villa of the former CTO

By Mike Hesp
• 2 min read
American authorities seize FTX villa

After FTX's bankruptcy, authorities seized the villa of the former chief technology officer. Cost: $3.7 million.

American authorities seized the former CTO's mansion of the failed crypto exchange FTX, Nishad Singh. Canadian TV network BNN Bloomberg says it learned this from anonymous sources.

The 27-year-old is said to have bought the San Juan Islands property (an island chain off Washington) for $3.7 million about two months before the platform collapsed.

Singh was investigated by authorities for, among other things, fraud, money laundering, and violations of campaign finance laws. In late February he pleaded guilty to all charges.

Because the purchase was made through an FTX account, prosecutors assume the funds came from illicit activity and later seized the villa.

At the same time, U.S. regulators SEC and CFTC each filed civil lawsuits against Singh.

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