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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 ...
A U.S. judge Tuesday sentenced a socially awkward math whiz-turned-futures trader who earned tens of millions of dollars over several years and helped trigger a U.S. stock market “flash crash ...
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]
(Sky News Australia) An Egyptian court sentences former President Mohammed Morsi to twenty years imprisonment for involvement in the killing of protesters when he was in power. The U.S. Justice Department has charged Navinder Singh Sarao with commodities fraud and related offenses, alleging that he played a part in the flash crash of May 2010.
Remember the flash crash? That was the 20 minutes on May 6, 2010 when the Dow lost almost 1,000 points before partially recovering. Most investors have forgotten about it.
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 ...
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