Judge Orders Extradition to U.S. in ‘Flash Crash’ Case
Source: nytimes
LONDON — A judge ordered on Wednesday that Navinder Singh Sarao be sent to the United States to face criminal charges accusing him of playing a role in the May 2010 “flash crash” in the United States stock market.
Mr. Sarao will not be sent back to the United States immediately, however.
The judge’s decision will be forwarded to the secretary of state of Britain, who will have two months to review it and make the order official.
Mr. Sarao’s lawyers said they would appeal the decision following the secretary of state’s review. He remains free on bail during the review.
Mr. Sarao, 36, was arrested in April of last year and has fought extradition to the United States since his arrest.
A British futures trader, Mr. Sarao is facing 22 criminal charges, including wire fraud and commodities manipulation. If convicted on all charges, he could face a prison sentence of more than 300 years.
Mr. Sarao is accused by United States authorities of helping to contribute to the turmoil in the markets on May 6, 2010, when the Dow Jones industrial average plunged more than 600 points in a matter of minutes.
Read more: http://www.nytimes.com/2016/03/24/business/dealbook/judge-orders-extradition-to-us-in-flash-crash-case.html?_r=0
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