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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]
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A five-year investigation by U.S. officials has uncovered a complex partnership between one of Mexico’s most notorious drug cartels and Chinese underground banking groups in the U.S. that ...
Law and crime Turkish police shoot two attackers outside Istanbul ’s central police headquarters, killing one of them. The exchange of fire wounds two officers. (The Guardian) An apparent murder and suicide leaves four dead in Tulsa, Oklahoma. (AP) A federal grand jury indicts New Jersey Senator Bob Menendez on corruption charges. (AP) A court convicts eleven Atlanta, Georgia teachers as ...
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