Gov't To Open New Frontier In Spoofing Prosecution

Law360 (March 29, 2019, 10:16 PM EDT) -- A jury trial set to begin Monday in Illinois federal court looks to take a software engineer to task for others' conduct on his program, in what could be the first time federal prosecutors have staged such an attack on commodity market spoofing.

Federal prosecutors are looking to hold Jitesh Thakkar, owner of Edge Financial Technologies Inc., responsible for creating software that enabled London-based trader Navinder Sarao to allegedly contribute to the 2010 Wall Street "flash crash" that saw the Dow drop 1,000 points before recovering minutes later.

Spoofing, which became considered criminal activity with the 2010 enactment of the Dodd-Frank Wall...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!