Chicken gaat twieten schreef op 23 maart 2016 15:38:
To whom it may concern:
Navinder Sarao, 37, who traded on the Chicago Mercantile Exchange (CME) from his parents' home near London's Heathrow Airport, is wanted in the United States to face trial on 22 criminal counts of wire fraud, commodities fraud and market manipulation. He denies any wrongdoing.
U.S. authorities say Sarao used a modified computer program to "spoof" markets by generating large sell orders that pushed down prices. He then canceled those trades and bought the contracts at the lower prices, reaping a roughly $40 million profit.
His actions contributed to market instability which led to the May 6, 2010 flash crash when the Dow Jones Industrial Average briefly plunged more than 1,000 points, temporarily wiping out nearly $1 trillion in market value, they say.
Sarao remains on bail pending his appeal. The maximum U.S. sentences for the charges he faces amount to more than 350 years in prison.
Voorzichtig dus met die orders heren dames ook!