I havent read the act, only going by the what i read on the internets:
"spoofing.. is defined under the act as the illegal practice of bidding or offering with intent to cancel before execution."
UK trader arrested for May 2010 U.S. Stock market flash crash
- Thread starter just21
- Start date
I havent read the act, only going by the what i read on the internets:
"spoofing.. is defined under the act as the illegal practice of bidding or offering with intent to cancel before execution."
They must believe we're all morons, or that we're so naive to believe anything they throw at us.
https://johnlothiannews.com/spoofer-sarao-looks-forward-to-his-last-court-appearance/
“We were unable to find precedents for a fraud in which the defendant did not seek to obtain money for one reason or another, or to do anything with it.”
Nav is too avant-garde for this world.
“We were unable to find precedents for a fraud in which the defendant did not seek to obtain money for one reason or another, or to do anything with it.”
Nav is too avant-garde for this world.
https://www.telegraph.co.uk/business/2020/01/28/hound-hounslow-sentenced-years-house-arrest/
A British trader blamed for helping cause the 2010 Flash Crash from his bedroom has been sentenced by a judge in Chicago to one year of house arrest.
Navinder Singh Sarao, 41, was arrested in 2015 for contributing to the volatility of May 6, 2010 when markets dropped 5pc in a five-minute period. He earned himself £45m through trading, but spent hardly any of it.
“I was totally addicted to trading,” he told the court.
“I made more money than I could ever have imagined and it didn’t make me happy. My guilt is heavy. I humbly ask your mercy and can assure you I will never do anything illegal again.”
Sarao carried out his trades over five years, using an illegal market-technique called spoofing, and using a software programme he designed himself called the NAVTRader....
A British trader blamed for helping cause the 2010 Flash Crash from his bedroom has been sentenced by a judge in Chicago to one year of house arrest.
Navinder Singh Sarao, 41, was arrested in 2015 for contributing to the volatility of May 6, 2010 when markets dropped 5pc in a five-minute period. He earned himself £45m through trading, but spent hardly any of it.
“I was totally addicted to trading,” he told the court.
“I made more money than I could ever have imagined and it didn’t make me happy. My guilt is heavy. I humbly ask your mercy and can assure you I will never do anything illegal again.”
Sarao carried out his trades over five years, using an illegal market-technique called spoofing, and using a software programme he designed himself called the NAVTRader....
OK, I must be stupid, but how can a US court enforce a house arrest in London? And anyway, how would they have any kind of jurisdiction? Unless the US and the UK courts made some kind of deal...
I can get if they imprison him in the US, but a house arrest in a foreign land?
"The sentence that was immediately thrown into doubt after lawyers said it would be unenforceable outside the US. A recess was called to discuss the situation and the judge was satisfied Sarao would only be allowed to leave the house in a handful of circumstances. “I’m not giving him leave to go to the gym,” said Judge Virginia Kendall of the northern district of Illinois."
No gym for you! -- really, gym is the dangerous place for a nerd? So he wouldn't get into steroids I guess....
I can get if they imprison him in the US, but a house arrest in a foreign land?
"The sentence that was immediately thrown into doubt after lawyers said it would be unenforceable outside the US. A recess was called to discuss the situation and the judge was satisfied Sarao would only be allowed to leave the house in a handful of circumstances. “I’m not giving him leave to go to the gym,” said Judge Virginia Kendall of the northern district of Illinois."
No gym for you! -- really, gym is the dangerous place for a nerd? So he wouldn't get into steroids I guess....
How can someone be under house arrest in a nation state on another continent.....real simple deals get cut by the US Embassy with the UK Police. It all matters to those that seek retribution for whatever reason. Just ask Bezo's on what it cost to get the spotlight on the hacked phone issue. Any contributing actions to the perceived market instability during 2007 to 2010 will result in consequences at a future date. If you ever got a "I don't like you ticket", know what I am talking about. The solution is change your straw man and do something different the next time you try to pull a fast one.
Akuma
Akuma
Nav supposedly had his sentencing hearing on 1/28.
No update on the results:
https://www.justice.gov/criminal-vns/case/navinder-sarao/update
No update on the results:
https://www.justice.gov/criminal-vns/case/navinder-sarao/update
