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In April 2015, Navinder Singh Sarao, an autistic [64] [65] London-based point-and-click trader, [66] was arrested for his alleged role in the flash crash. According to criminal charges brought by the United States Department of Justice , Sarao allegedly used an automated program to generate large sell orders, pushing down prices, which he then ...
The mechanism causing the event has been heavily researched and is in dispute. On April 21, 2015, the U.S. Department of Justice laid "22 criminal counts, including fraud and market manipulation" against Navinder Singh Sarao, a trader. Among the charges included was the use of spoofing algorithms. [10]
Sarao began his alleged market manipulation in 2009 with commercially available trading software whose code he modified "so he could rapidly place and cancel orders automatically." [20] Sarao is a 36-year-old small-time trader who worked from his parents’ modest semi-attached stucco house in Hounslow in suburban west London. [20]
The former chief executive of MoviePass’ parent company has pleaded guilty to charges of security fraud and conspiracy and could face up to 25 years in prison.
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The 26-year-old murder suspect began his day at a jail in Huntingdon, Pennsylvania, his home for the last 10 days, and ended it in a notorious federal prison in New York.
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A London-based trader who traded on the Chicago Mercantile Exchange, Navinder Singh Sarao, accused of contributing to the 2010 Wall Street "flash crash" by placing bogus orders to spoof the market, fails in his legal bid to stop extradition and will now be sent to the United States to face trial where he is wanted by U.S. authorities on 22 ...