https://www.bloomberg.com/news/feat...sh-crash-trader-s-50-million-fortune-vanished
This story is so bizarre. Would actually make a good movie.
This story is so bizarre. Would actually make a good movie.
Flash Crash Trader gets scammed...lost it all
- Thread starter Maverick74
- Start date
His lost money has been mentioned already in the main thread.
The guy was a legendary miser/money hoarder, never spent much.
Same mentality when it came to paying taxes.
Did not want to pay any tax, wanted to hoard every penny.
So fell prey to the offshore tax scammers.
Wouldnt make a good movie as no whoring or drug taking or fast cars involved.
Him returning his new training shoes after giving back profits does make the most exciting movie plot.
The guy was a legendary miser/money hoarder, never spent much.
Same mentality when it came to paying taxes.
Did not want to pay any tax, wanted to hoard every penny.
So fell prey to the offshore tax scammers.
Wouldnt make a good movie as no whoring or drug taking or fast cars involved.
Him returning his new training shoes after giving back profits does make the most exciting movie plot.
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If this guy caused the flash crash then I'm Santa Claus
If one person can cause a flash crash then there would be flash crashes every day
If one person can cause a flash crash then there would be flash crashes every day
Nav Sarao not a typical massively funded, connected and lobby-protected High Frequency Trader, such as Citadel or Virtu, using countless algos across numerous fragmented markets to frontrun size order blocks, but an old-school "point and click" prop trader.
http://www.zerohedge.com/news/2015-...stroyed-he-found-way-beat-hfts-their-own-game
http://www.zerohedge.com/news/2015-...stroyed-he-found-way-beat-hfts-their-own-game
Making millions from markets each single year and then seeking 11% returns from fraudsters with glossy presentations. Does not make sense.
Why did he not keep playing the markets instead of chasing offshore crooks. Oh I forgot! he wanted to save tax money and keep all for himself. He should have taken the charity route to offset some taxes instead.
Why did he not keep playing the markets instead of chasing offshore crooks. Oh I forgot! he wanted to save tax money and keep all for himself. He should have taken the charity route to offset some taxes instead.
In other words, a small mom and pop retail trader like some of us.
Well, an obvious question is - what is the probability of that story just being him avoiding that money being taken away by the government, this time for real?
Almost everyone involved in any financial scandal has gone out of his way to make himself disgorgement-remote. Dick Fuld has sold his 20 million dollar mansion to his wife for a 100 dollars, for example. Obviously, he got scammed.
Almost everyone involved in any financial scandal has gone out of his way to make himself disgorgement-remote. Dick Fuld has sold his 20 million dollar mansion to his wife for a 100 dollars, for example. Obviously, he got scammed.