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Flash crash trader pleads guilty, agrees to $38 million fine

( November 9, 2016, 22:50 GMT | Official Statement) -- MLex Summary: UK futures trader Navinder SIngh Sarao pleaded guilty to criminal charges of spoofing and wire fraud in connection with his role in the May 6, 2010 flash crash. The US Commodity Futures Trading Commission also submitted a proposed resolution of charges which assert that Sarao manipulated markets of the E-mini S&P 500 on at least 12 days between April 2010 and March 2014. The resolution imposes $38 million in sanctions and permanent bans for trading and registration. Statement follows. Please see attached proposed consent order....

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