UK trader arrested for May 2010 U.S. Stock market flash crash

It was not just against exchange "rules", it was explictly made illegal under the dodd frank act.

 

I think it's on this thread somewhere.

 

https://www.justice.gov/sites/defau...ments/2015/04/21/sarao_criminal_complaint.pdf

 

Nav's lawyer speaks, describes him as child.

https://www.bloomberg.com/news/arti...it-seen-as-guileless-gamer-not-fit-for-prison

 

Yeah, I know what he did in terms of the programming that was done.
Do you have a link to the PDF of the official charges ?

 

Come on man, you can google it...

So the guy made 70 million and then lost 60 million of it to fraudsters. That's wallstreetbets levels of autism. This guy should be their patron saint.

 

Great article...love that reference to the "NAVTrader" app.
Great defense..."others were doing it". Just perfect to make the CME Group look like the smucks they are...and greedy smucks at that. Their exchange fees are so out-of-line for the volume of trading that occurs.

 

https://www.justice.gov/sites/defau...ments/2015/04/21/sarao_criminal_complaint.pdf

 

Thanks ZBZB

 

Which was one awful piece of legislation that no one references any more. Show me the exact reference in the act.
I'm not sure which was the most recent awful piece of legislation: The Patriot Act or the Dodd-Frank bill.
Both were damaging to our economy.