UK Court finds British Futures Trader Extraditable for Stock Market “Flash Crash”

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Author: 

Bruce Zagaris

Date Published: 

Friday, April 1, 2016

Volume: 

32

Issue: 

4

Subject Areas: 

Administration of Justice
Charged with Crimes
Comparative and International Law
Conspiracy
Court Conviction
Detention
Extradition
Financial Crimes
Financial Enforcement
Financial Supervision
Fraud
Indictment
Investigation
Jurisdiction
Securities Exchange Commission
Securities Law

Geographic Identifier: 

United Kingdom
United States

Abstract: 

On March 23, 2016, District Judge Quentin Purdy, a U.K. judge in the Westminster Magistrates’ court, ruled that Navinder Singh Sarao, 36, the British futures trader accused of contributing to the so-called stock market “flash crash” of 2010, is extraditable to the U.S. on 22 charges ranging from wire fraud to commodities manipulation on U.S. futures markets over a four-year period.