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Trader Charged With Manipulation That Contributed to ‘Flash Crash’

Old_JoeOld_Joe
in Off-Topic
"LONDON — A futures trader was arrested in Britain over allegations that his manipulation of trades helped prompt the May 2010 “flash crash,” when the Dow Jones industrial average plummeted 600 points and unnerved many investors..."

"The trader, Navinder Singh Sarao, 37, was arrested Tuesday morning at his home in London on charges of wire fraud, commodities fraud and manipulation charges. Prosecutors said that Mr. Sarao’s actions earned him significant profits and contributed to the precipitous drop in the market."

⇒ The article...

Comments

  • Old_Skeet
    Good ... I hope this is only the first; and, many more of the high frequency crowd will get nailed for spoofing.
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