Likely London, he was allowed to head back to the UK pending sentencing if I recall properly, was wondering about him a few weeks ago and was surprised to see he still hadn´t been sentenced.
The CME Group should come forth with a statement indicating they were negligent in putting anti-spoofing mechanisms in place in their software. Period. This would help Nav in getting a reduced or suspended sentence.
Good lord, what a waste of time and money. Can't believe they're still trying to make something of this.
I thought I read a story online about him moving in with his parents...living in a basement apartment in their home prior to the U.S. trying to get their hands on him. wrbtrader
What was his sentenced ? I do know the prosecution recommend 6 - 8 years. Regardless, he'll start a blog and try to become a folklore hero as if he's warning other automated trading system developers. wrbtrader
He must have been in the US, because I don't think he was helping US authorities from London. Also there were sentencing scheduled for last Sept and later November, currently set for Jan. 28th: https://www.justice.gov/criminal-vns/case/navinder-sarao/update "Sarao was extradited to the United States on November 7, 2016." https://www.justice.gov/criminal-vns/case/navinder-sarao
I read the dude made 70 million of which only(!) 13 was due to spoofing. Seems like a legit trading savant.
Why if you are already up 50M+ do you then start cheating? The only explanation is he lost the legit pre 2010 trading edge that he had. Happened to a lot of prop traders back then. His autism/savant powers gave him the ability to trade large size, and that is one of the most important skills for a trader, but i don't think he had any special market edge above the other prop traders around that time.