‘A British man helped to trigger a £500bn US stock market crash by manipulating financial markets on a massive scale from a suburban London semi, US prosecutors have claimed.
Navinder Singh Sarao, 37, is accused of fraudulently making £27 million by using computer programmes to create fake trades on markets linked to the Chicago Mercantile Exchange.
US investigators say he was a major contributory factor to the so-called “Flash Crash” of May 6, 2010, when hundreds of billions of dollars was wiped off the value of the Dow Jones Industrial Average in just five minutes.’
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