WASHINGTON: A high-frequency trader was arrested in London over his alleged role in the May 2010 "flash crash" that briefly wiped out nearly $1 trillion in market value, the first time authorities have blamed manipulation for the turbulence.
The U.S. Justice Department said on Tuesday that it had criminally charged Navinder Singh Sarao, 36, of London, with wire fraud, commodities fraud and manipulation.
Already a subscriber? Log in
Save 30% OFF The Star Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
