‘Hound of Houn­slow’ loses fight against ex­tra­di­tion

Trader to face trial in US for £570bn stock mar­ket crash

Harefield Gazette - - NEWS - By Robert Cum­ber robert.cum­ber@trin­i­tymir­ror.com

A TRADER dubbed the Hound of Houn­slow has lost his fight against ex­tra­di­tion to the United States.

Navin­der Sarao, of Clair­vale Road, He­ston, is ac­cused by the US gov­ern­ment of con­tribut- ing to the 2010 flash crash which wiped £570bil­lion from the stock mar­ket in less than five min­utes.

Dis­trict judge Quentin Purdy ruled at West­min­ster Mag­is­trates’ Court on Wed­nes­day that the 37-year-old could be sent to the States for trial, as his al­leged of­fences do con­sti­tute crimes in the UK.

Mr Sarao faces 22 charges of fraud, ma­nip­u­la­tion and ‘spoof­ing’, which be­tween them carry a max­i­mum jail sen­tence of 380 years.

Richard Egan, who is rep­re­sent­ing Mr Sarao, re­port­edly ex­pressed his dis­ap­point­ment and said his client would ap­peal against the de­ci­sion.

Mr Sarao is ac­cused by the US Gov­ern­ment of earn­ing £27m through ‘spoof­ing’ – plac­ing and quickly with­draw­ing of­fers to drive down prices and make a profit.

He is al­leged to have made the money op­er­at­ing from the bed­room of his par­ents’ home, us­ing an au­to­mated com­puter pro­gramme.

Mr Sarao, who is said to have Asperger’s syn­drome, de­nies the charges. Re­cent re­search by US aca­demics sug­gested Mr Sarao’s ac­tions were ‘highly un­likely’ to have led to the flash crash.

n EX­TRA­DI­TION: Savin­der Singh Sarao, dubbed the ‘Hound of Houn­slow’, is ac­cused of wip­ing £570bn off the US stock mar­ket

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