Flash Crash trader: ‘I did nothing wrong’

Flash Crash trader 'I did nothing wrong'

A UK trader accused of contributing to the 2010 Wall Street “flash crash” has protested his innocence in court, saying he did not “do anything wrong”.

Navinder Singh Sarao, 36, has been charged with wire fraud, commodities fraud and market manipulation by the US Justice Department (DOJ).

Mr Sarao denies the charges but was remanded in custody for the third time after failing to raise £5.05m in bail.

His lawyers’ request that bail be lowered to £50,000 was refused.

His legal team told Westminster Magistrates’ Court he had been unable to raise the funds required by US authorities because they had frozen his assets.

Wearing a grey sweatshirt and tracksuit bottoms, he had sat calmly in the dock until he heard his bail conditions would not be changed.

He then spoke out to in court to plead his innocence claiming he had not “done anything wrong apart from being good at my job”.

“How is this allowed to go on, man?” he added.

Source: http://www.bbc.com/news/business-32608295

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