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Title    Accused British "Flash Crash" Trader to be Extradited to the US
Date    Sunday October 16 2016, @12:53PM
Author    martyb
Topic   
from the where-were-the-air-bags? dept.
https://soylentnews.org/article.pl?sid=16/10/16/0234213

Whoever writes:

Navinder Sarao has lost his appeal and is set to be extradited to the USA, where he faces charges with a possible maximum sentence of 380 years. He is accused of causing the "flash crash" in 2010, when the Dow Jones index dropped by 1000 points. He ran his trading from his bedroom in his parents' house and it is claimed that he made more than £30M (approximately $40M) in 5 years. His parents had no idea what he was doing, nor the scale of his income. He is accused of placing trades that he never intended to fill, so, to this naive person, it's hard to distinguish what he did from that of the large high-speed trading firms.

Original Submission

Links
  1. "Whoever" - https://soylentnews.org/~Whoever/
  2. "Navinder Sarao" - http://www.bbc.com/news/business-35863848
  3. " lost his appeal " - http://www.zerohedge.com/news/2016-10-14/flash-crash-mastermind-navinder-sarao-be-extradited-us-faces-380-years-jail
  4. " set to be extradited to the USA" - http://www.telegraph.co.uk/business/2016/10/14/flash-crash-trader-navinder-sarao-loses-us-extradition-appeal/
  5. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=16429
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