Thanks Mick, but I got "page not found" with that link.
UK trader arrested for May 2010 U.S. Stock market flash crash
- Thread starter just21
- Start date
I found it.
https://www.cnbc.com/2020/01/29/fla...-singh-sarao-sentenced-to-home-detention.html
Good for Nav. But can he trade again ?
Ah, he lost all / most of the money in his attempts to hide the profits.
Still there could be a couple of million remaining for his access.
https://www.cnbc.com/2020/01/29/fla...-singh-sarao-sentenced-to-home-detention.html
Good for Nav. But can he trade again ?
Ah, he lost all / most of the money in his attempts to hide the profits.
Still there could be a couple of million remaining for his access.
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"At his wealthiest, he bought a £5,000 second-hand Volkswagen but abandoned it because he found driving too stressful, and went back to his bike."
"His parents – who had offered the £250,000 equity in their home as his bail bond – couldn’t afford the flight."
"In a twist, Sarao had lost all his fortune before his arrest – conned by a series of companies into investing his millions into ponzi schemes and spurious windfarms; even a fake signed Lionel Messi shirt ,which he keeps on his wall."
He has 12M$ to pay with 7M$ net worth? That's actually a drama for him and his family. This guy was incredibly talented at what he did. He just treated it too much like a game( remember when he told the exchange to go F* themselves and was bragging about it... ). Still,when I compare him to Brian Hunter, this dude is still worth tens of millions, it is pretty disgusting...
"His parents – who had offered the £250,000 equity in their home as his bail bond – couldn’t afford the flight."
"In a twist, Sarao had lost all his fortune before his arrest – conned by a series of companies into investing his millions into ponzi schemes and spurious windfarms; even a fake signed Lionel Messi shirt ,which he keeps on his wall."
He has 12M$ to pay with 7M$ net worth? That's actually a drama for him and his family. This guy was incredibly talented at what he did. He just treated it too much like a game( remember when he told the exchange to go F* themselves and was bragging about it... ). Still,when I compare him to Brian Hunter, this dude is still worth tens of millions, it is pretty disgusting...
This whole story would make a great movie.....Oh the drama, the drama. I guess Nav cannot trade if he is in the hole $5M...that's too bad. I was hoping he would make a come-back by trading legit. He was a good trader without the spoofing tool that he had built. And it was a game...he gamed the "system", the CME Group's order management system.
He paid the $7MM after the asset discovery.
It's time to nail the dude who wrote the front-end which gamed the CME's order book.
If he made good money without doing anything illegal, why did he turn to the dark side? Just to make good money faster? Couldn't he have simplly increased size to make the money faster?