LONDON – The High Court in London has ruled that a British financial trader suspected of helping to trigger the 2010 “Flash Crash” in stock markets can be extradited to the United States.
Navinder Singh Sarao is wanted in the U.S. on charges related to the crash, which saw U.S. stock values plunge and rebound, with tens of billions of dollars lost in just five minutes.
The 37-year-old is accused of helping to spark the market mayhem from his parents’ suburban London home. U.S. officials say he made $875,000 on that day.
Sarao faces 22 charges in the United States.
His lawyers had sought to appeal a lower court’s ruling that he could be extradited. But on Friday two High Court judges refused him permission to challenge the decision.