U.S. Charges English Futures Trader with Illegally Manipulating Stock Market and Requests His Extradition

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Wednesday, August 17, 2016
Author: 
Bruce Zagaris
Volume: 
31
Issue: 
4
Abstract: 

                On April 21, 2015, the U.S. Attorney in the Northern District of Illinois announced the English law enforcement have arrested Navider Singh Sarao, 36, of Hounslow, United Kingdom on U.S. wire fraud and commodities fraud and manipulation charges in connection with his alleged role in the May 2010 “Flash Crash,” when the Dow Jones Industrial Average dropped 600 points in five minutes.  The U.S. government is requesting his extradition.[1]