Of course....just an indication of the state of our legal system. Everyone is guilty until proven innocent or gone to jail.
They are going to really make an example of Sarao. One question : which UK-based trader, seeing what Sarao is going through will be tempted to lie to FBI agents when caught red handed about any trading related crimes?
https://www.theguardian.com/us-news/2016/nov/08/waflash-trader-sarao-in-u-s-custody-to-appear-in-chicago-courts On his way. http://www.bloomberg.com/news/artic...rao-in-u-s-custody-to-appear-in-chicago-court In court 9:30 am cst Chicago Wednesday
Based on what happened to Michael Coscia of Panther Energy Trading LLC, Navinder is probably looking for a long stay in the US....
http://www.bloomberg.com/news/artic...crash-trader-sarao-to-plead-guilty-in-chicago Pleads guilty to two charges forfeits $12.9m
Surprising he's allowed to go back to UK until further court appearances, but good on him , there is also a 25million penalty on his plea deal.
Shackled in court http://www.dailymail.co.uk/news/art...Street-flash-crash-bedroom-parents-house.html
$38.6 million in fines, plus his legal bills. How much will he have left? Also banned from trading derivatives. Perhaps he can make back his fortune trading the FX.