WorldNews Posted April 22, 2015 Posted April 22, 2015 [attach=full]20724[/attach]A British trader accused of contributing to a US stock market crash and fraudulently making $40 million in high-frequency trading from his modest London home was due to appear in court on Wednesday. Navinder Singh Sarao, 36, was arrested by British police on Tuesday on an extradition warrant issued by the US authorities, which accuse him of an elaborate scheme using automated software on the futures market. US justice officials allege that his trades contributed to the May 2010 "Flash Crash", when US stocks plunged 600 points in five minutes. His company, Nav Sarao Futures Ltd, is headquartered in a suburban house in Hounslow, west London, which is reportedly also his family's home. Continue reading... Quote
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