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

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Author: 

Bruce Zagaris

Date Published: 

Wednesday, August 17, 2016

Volume: 

31

Issue: 

4

Subject Areas: 

Economic Crimes
Extradition
Fraud
Trade Crimes
Trade Enforcement

Geographic Identifier: 

United Kingdom
United States

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]