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Flash Crash Trader Sarao Loses Extradition Case in London

Prosecutors allege Sarao spoofed CME Group Inc.’s stock futures market over four years. His winnings included a $900,000 profit on May 6, 2010, when a trading frenzy known as the “Flash Crash” saw almost $1 trillion briefly wiped from the value of American equities.

Traders Magazine Online News, March 23, 2016

Suzi Ring

Prosecutors allege Sarao spoofed CME Group Inc.’s stock futures market over four years. His winnings included a $900,000 profit on May 6, 2010, when a trading frenzy known as the “Flash Crash” saw almost $1 trillion briefly wiped from the value of American equities.

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