Thursday, 23 April 2015
Trader accused of causing £570BILLION US share crash from his London semi
Navinder Singh Sarao, 36, pictured at his high school ball, was warned at Westminster Magistrates' Court yesterday that he faced a 380-year prison sentence in the United States.
Sarao allegedly masterminded the Wall Street 'Flash Crash' of 2010 in which almost a trillion dollars was wiped from global share prices, all using a computer in his parents' suburban home 3,500 miles away in Hounslow, west London, inset. But the whereabouts of his alleged £26million profit was a mystery last night. District Judge Quentin Purdy questioned the vast haul, saying: 'That amount could well buy a home somewhere more lush than Hounslow. So where is it?'
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