UK-Based Market Spoofer Asks For No Prison Time

Law360 (January 15, 2020, 3:34 PM EST) -- A United Kingdom-based trader with autism who admitted to spoofing the stock market told an Illinois federal court Tuesday that his condition caused him to obsess over beating other traders at their own game, and asked for a sentence of time served.

Navinder Sarao told the court that his autism is “wholly inseparable from who he is and cannot be controlled,” which is why he began using the spoofing tactics he saw other traders using after his numerous complaints to the Chicago Mercantile Exchange went unaddressed.

“This is critical to understanding Nav, and thus, the case, because there is no point...

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