£27M

Finweek English Edition - - IN BRIEF -

The amount (R500m) al­legedly made by Bri­tish trader Navin­der Singh Sarao, who stands ac­cused of “spoof­ing” fi­nan­cial mar­kets by plac­ing thou­sands of false trades. Sarao is fight­ing ex­tra­di­tion to the US, where au­thor­i­ties say his al­leged ma­nip­u­la­tion con­trib­uted to the so-called flash crash on 6 May 2010, when the Dow Jones industrial av­er­age plunged 600 points in five min­utes, cre­at­ing havoc on Wall Street.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.