UK trader arrested for May 2010 U.S. Stock market flash crash

So now it is no longer 50 lots Sarao, but Sarao with £30m bank accounts hidden in Switzerland.
Basically the Magistrate, out of compassion( (: lol) is giving Sarao a chance to live the last best moments
of his life.
The advice one would give to Sarao: before it is too late, start negociating a plea deal with the US authorities. If one has to go down, don't go down alone!
 
And about running away, he should forget it :
as he'll finish with a bounty on his head and a full bio on https://www.fbi.gov/wanted/cyber
About all his "accomplices" : their best move now, is to also start talking to the SEC and the FED.
Once Sarao is in the US in the hands of the Fbi agents, it's just a question of time before everybody comes
down with him. Already, just the UK police ( I am sure helped locally by the US one) managed to get him
to start talking.
 
Visaria said:
Great news!

I have no idea how or why they intend to limit his access to the internet?
More...

Not so great news for some as it means he has started talking.
They limited internet access and contact access to prevent him from talking to potential accomplices.
The job of the Magistrate is to get as much info as possible and to attract the others.
The Magistrate got what he was asked to find.

And now he's free, all his moves and conversations are going to be recorded.
Whoever contacts him is "tapped". Don't believe that real pros law enforcement are completely stupid:
notice that some US Fed moved to the UK just for him! Whoever is involved in the "Sarao " stuff better
start negociating. It's just a question of time.
 
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smallStops said:
Not so great news for some as it means he has started talking.
They limited internet access and contact access to prevent him from talking to potential accomplices.
The job of the Magistrate is to get as much info as possible and to attract the others.
The Magistrate got what he was asked to find.

And now he's free, all his moves and conversations are going to be recorded.
Whoever contacts him is "tapped". Don't believe that real pros law enforcement are completely stupid:
notice that some US Fed moved to the UK just for him!
More...

You seem to have it in for him. Why's that?
 
JTrades said:
You seem to have it in for him. Why's that?
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I don't have anything against him.
I simply do not take BS : now we are talking about £30m.
What else do you think there is?
the tip of a Madoff iceberg?
If you look well, they are after around $10bn.
Sarao is just one element to get up the "food chain".
 
smallStops said:
I don't have anything against him.
I simply do not take BS : now we are talking about £30m.
What else do you think there is?
the tip of a Madoff iceberg?
More...

We don't know all the facts.

Do you think the heavy handed scare tactics in the way of pinning the flash crash on him and a 380 year sentence are proportionate to his alleged crime?
 
JTrades said:
– but agreed to grant Sarao bail and limited access to the internet.

Well, he's back on the Internet, which means he might be back on ET.
More...
What was his handle ?
Look, he's still in trouble because his lawyer is too stupid to make the case that he needs much more time to mine the CME order database to prove that Sarao was NOT the only one contributing to the flash crash.
And without the postponement, he won't have the money to be bailed out before the hearing.
Once again, they hosed him good.

NAV - GET A NEW LAWYER FOR HEAVEN'S SAKES.
 
JTrades said:
We don't know all the facts.

Do you think the heavy handed scare tactics in the way of pinning the flash crash on him and a 380 year sentence are proportionate to his alleged crime?
More...

Some were assuming that Sarao was a simple 50 lots trader saving his pennies at his parents' basement flat.
Now he is being explained in no uncertain terms what his risks are.
He is being explained in no uncertain terms what the options are.
If he choses to - which he is entitled- to risk the 380 years : he is fully entitled
and can fight with good lawyers his case.
If he choses to - which he is entitled - to enter plea deals or any other types of agreements with the
US Law Enforcements : he is fully entitled and I am sure his lawyer will explain to him what the potential
risks are.
I am actually thinking of the people who might have lost big in the ponzi scheme - scheme being investigated over the last 5 years. What will be interesting to find is how the "flash crash" might fits
in all of this.
 
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