• Thursday, December 08, 2022

Business

British “flash crash” trader Sarao to be extradited to the US

Navinder Sarao has denied any wrongdoing

By: Eastern Eye Staff

A LONDON-BASED trader accused of contributing to the 2010 Wall Street “flash crash” by placing bogus orders to spoof the market lost his legal bid to stop extradition on Friday and will now be sent to the United States to face trial. Navinder Sarao, 37, who traded on the Chicago Mercantile Exchange (CME) from his parents’ home near Heathrow airport, is wanted by the US authorities on 22 criminal counts of wire fraud, commodities fraud and market manipulation. He has denied any wrongdoing and in his only public comment said he was just good at his job. A judge initially…

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