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  • Accused U.S. 'flash crash' trader fails to have UK extradition case postponed

    From reuters.com

    A London-based day-trader accused by the United States of market manipulation that contributed to the Wall Street "flash crash" in 2010, failed to persuade a court on Friday to postpone his extradition hearing. Navinder Sarao, who lives with his parents in a small house near London's Heathrow Airport, was arrested by British police on a U.S. extradition warrant in April after being charged with wire fraud, commodities fraud and market manipulation by the U.S. Justice Department. He was freed on bail on Aug. 14 after spending four months in prison. On Friday , his defence lawyer James Lewis told Westminster ... (full story)

Its a total crazy thing that this man was in jail for doing nothing illegal.
Greetings, BeLikewater
i dont even understand what the charges have to do with what he did
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  • | IP XX.XX.182.167
they have done the same thing (flash crash) at least twice again this week
not sure either, but there is never any smoke without a fire.
I guess only the big banks are allowed to win. Big banks have been spoofing prices since before computers were invented and have perfected their game in the age of digital trading. The Rothschild's made billions at it as more recently has BOA, GS, MS and every other major trading house. I'm guessing it must be illegal for a small trader to beat the big banks at their own game. The simple solution is to charge a fee for order cancelations, but the big banks lobby against that as it would dig into the profits from their own spoofing operations.
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  • Story Stats
  • Posted: Aug 28, 2015 7:56am
  • Submitted by:
     Newsstand
    Category: Entertainment News
    Comments: 5  /  Views: 1,775