Slashdot reader whoever57 writes: Navinder Sarao has lost his appeal and is set to be extradited to the USA, where he faces charges with a possible maximum sentence of 380 years. He is accused of causing the “flash crash” in 2010, when the Dow Jones index dropped by 1000 points. He ran his trading from his bedroom in his parents’ house and it is claimed that he made more than 30 million pounds (approximately $40 million) in five years. His parents had no idea what he was doing, nor the scale of his income. He is accused of placing trades that he never intended to fill, so, to this naive person, it’s hard to distinguish what he did from the large high-speed trading firms.
“Lawyers for Mr Sarao tried to argue that the U.S. crime of spoofing had no equivalent under English law, meaning he could not be sent for trial overseas,” reports The Telegraph, adding that he’s already spent four months in jail because he didn’t have enough money to post his own bail.

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Source: Slashdot – Accused British ‘Flash Crash’ Stock Trader To Be Extradited To The US