The case against 'Flash crash' trader smells strongly of scapegoating.

Prison Bars

How do you prove you don't have $35m of ill-gotten gains parked in an offshore account ?

That's the dilemma facing Navinder Singh Sarao, known variously as the 'Flash-Crash Trader' and the 'Hound of Hounslow' and currently residing at Her Majesty's pleasure in London's Wandsworth prison.

Bloomberg View reports that Sarao is accused of contributing to - but not causing, mind you; the Commodity Futures Trading Commission is adamant about that - the so-called 'flash crash' that briefly wiped $1tril off the value of U.S. stocks on May 6, 2010. He faces a maximum prison term of 20 years for wire fraud, 25 years for commodities fraud, and 10 years for market manipulation and spoofing.

The case against Sarao smells strongly of scapegoating. 

To access the complete Bloomberg View article hit the link below:

The Flash-Crash Trader's Kafkaesque Nightmare

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