He also has 25 Million Pounds stashed in Switzerland - to be walking out of prison today. But my interest was piqued in his Asperger's according to quick search these are the symptoms that could help someone with Asperger's become extremely focused: While all children with AS are different, their unusual social skills and obsessive interests tend to set them apart from their peers. They may have in common some or all of the following symptoms: may have an intense obsession with one or two specific, narrow subjects may strongly prefer repetitive routines or rituals and becomes upset at any small changes may memorize information and facts easily, especially information related to a topic of interest. may perform repetitive movements, such as hand or finger flapping. http://www.telegraph.co.uk/finance/...d-after-declaring-25.5m-in-Swiss-account.html By Marion Dakers, and Julia Bradshaw 11:23AM BST 14 Aug 2015 Navinder Singh Sarao, the trader accused of contributing to the 2010 flash crash, will be let out on bail today after the US authorities dropped their opposition to his release. Mr Sarao, who has been in Wandsworth prison since his arrest in April, will be confined to within the M25 ahead of a full extradition hearing next month for a trial in the United States. To address concerns that Mr Sarao was a flight risk, his US lawyers have set up an escrow account with the US Commodity Futures Trading Commission to hold all of Mr Sarao's assets, including the £25.5m that he has now revealed is held in Swiss accounts. Of this sum, roughly £2.5m has been set aside to at some stage pay his legal costs. Some of the assets are tied up in long-term investments that cannot be released in full until 2017, but will be added to the escrow account once they are available, the court heard. As a result, Wesminster Magistrates Court has dropped a requirement for Mr Sarao to post £5m security before he can be released on bail. He had previously said he was unable to pay the bail money as all of his funds were subject to a worldwide freezing order. His family have already paid a £50,000 security into the court as part of the bail conditions that were set in April. The court was also told that Mr Sarao has been diagnosed with severe Asperger's syndrome. The 36-year-old financial trader is accused of helping precipitate a “flash crash” by making bogus offers to trade on one of the worlds' biggest financial markets. Trades he made from his parents' house in Hounslow, west London in 2010 coincided with a multi-billion dollar plunge in the value of US shares, in a crash that began in the S&P derivatives market and soon spread to the Dow Jones index. Mr Sarao faces extradition to the US on Department of Justice charges that carry a maximum sentence of 380 years if he is found guilty.
An example would be Michael Burry, the trader behind The Big Short. It will be interesting to see how he's portrayed when the movie, produced by Brad Pitt, comes out next year. http://www.imdb.com/title/tt1596363/
Dr. Michael Burry who was featured in "The Big Short" and "The Greatest Trade Ever" has Asperger's as per the books.
I believe last year I read an article saying Burry was opening his hedge fund up again, but I haven't heard anything about it since then.
Flash Crash Suit by Regulator on Hold as Extradition Sought Traders Magazine Online News, August 13, 2015 Janan Hanna (Bloomberg) -- The Commodity Futures Trading Commission’s lawsuit against the British trader accused of contributing to the 2010 flash crash was put on hold while U.S. prosecutors seek his extradition to face related charges. London trader Navinder Singh Sarao is accused in the U.S. of spoofing the CME Group Inc. stock futures market to make about $40 million over four years. U.S. District Judge Andrea Wood on Wednesday granted a request by federal prosecutors to delay the exchange of evidence in the lawsuit for four months to avoid damaging the criminal case. Wood agreed, saying “it would be in the interest of justice to stay this matter.” Such requests in parallel criminal and civil cases are common and usually granted. On May 6, 2010, Sarao’s spoofing allegedly helped trigger a market plunge known as the Flash Crash. It temporarily wiped out almost $1 trillion of the value of U.S. equities. That day, Sarao made about $900,000, they contend. Sarao, held since April by U.K. authorities as he fights extradition, is scheduled to seek reduction of his 5 million- pounds ($7.8 million) bail Friday in a London court. Sarao’s bail was based on the funds in his accounts before his assets were subject to a worldwide freeze. Two judges have been unwilling to cut the amount, and one ruled in May that unless Sarao can prove he doesn’t have access to undisclosed funds, the risk of him fleeing is too high. An extradition hearing is scheduled for September in London, his lawyers said Wednesday. As Sarao left a U.K. court in May, he shouted to reporters that he’d “not done anything wrong apart from being good at my job.” The CFTC case is U.S. Commodity Futures Trading Commission v. Nav Sarao Futures Ltd., 15-cv-03398, and the criminal case is U.S. v. Sarao, 15-cr-00075, U.S. District Court, Northern District of Illinois (Chicago).
Again if this was so easy to do by one guy sitting in his mom and dads house at a single computer why isn't this occurring every single day by groups of 20 somethings that want to take revenge on wallstreet? I'm not buying this story one bit, if anyone believes this one guy caused that massive break in the markets you have to be a fool. There's a lot more to what happened that day those markets fell....
“Flash Crash” Trader Sarao Makes Bail In London Posted By: Clayton BrownePosted date: August 14, 2015 02:20:49 PMIn: BusinessNo Comments The UK-based financial trader accused of being a major contributor to the May 2010 stock market "flash crash" is being released from prison after meeting bail. Navinder Singh Sarao lives in London and is currently fighting extradition to the U.S. Sarao, who faces 22 counts of fraud and commodity manipulation in the U.S., saw his bail set at £50,000 at Westminster magistrates court Friday. Until today, Sarao had been incarcerated at Wandsworth prison in London, after being denied bail after his arrest in April. More on "flash crash" trader Sarao On Friday, Sarao was granted a bail reduction to £50,000. James Lewis QC, his lawyer, told the court on Friday that amount has already been paid. Sarao was also told he cannot leave the area within the M25 motorway surrounding London or make stock trades on the internet. Sarao, who is 36, apparently earned tens of millions of dollars trading stocks and options from personal accounts at his parents’ house in suburban west London. The charges against him allege that he used an illegal spoofing technique to manipulate the market. In specific, Sarao used software to offer to make trades and get price information, and then yank the offers at the last second before they were executed. He would then immediately make trades using that information to get the best possible price. According to U.S. Department of Justice legal filings, Sarao's personal trading in e-mini S&P 500 futures on the Chicago Mercantile Exchange was at such a high volume in May 2010 that it directly contributed to the "flash crash", when U.S. equities markets dropped 600 points within minutes on no news and then bounced all the way back within a half hour or so. The lawyer for the U.S. DOJ noted he would not oppose the bail reduction. He noted that over $45 million of alleged flash crash trader Sarao’s assets remain subject to a worldwide freeze order, including the $7.6 million from liquid accounts moved to an escrow account in the U.S. Of note, nearly all of Sarao's remaining funds are in an account in Switzerland and cannot be transferred until January 2017.