FX.co ★ Flash crash trader to be extradited to US

Trader Navinder Singh Sarao, who was accused of stock manipulations that triggered the Dow Jones slump in 2010, will be extradited to the United States within 28 days, Bloomberg reported. Currently Sarao is in the United Kingdom. The US authorities accused him of the Flash Crash.

On October 14, the High Court in London ruled against an appeal opposed to extradition. According to the US Department of Justice, Sarao will face trial on 22 charges for market manipulations and fraudulent activities. The DOJ believes that the trader imitated deals to trigger fluctuations on the stock. The US authorities suppose that Sarao earned around $40 million through his manipulations and about $879,000 on the 2010 Flash Crash only.

Navinder Singh Sarao was arrested on April 22, 2015. Right after his arrest, the US authorities filed an extradition request to the UK. The alleged offences carry sentences totaling up to 380 years.