Posted: October 17th, 2016 | By: Emily Eisert
Sarao is the British trader allegedly responsible for the trillion-dollar “flash crash” in 2010. He requested for permission to appeal his extradition to the United Kingdom High Court on Friday, Oct. 14, but was denied. Sarao faces 22 charges of fraud, according to a Bloomberg article, and may be sentenced to 380 years in prison.
Professor Verstein also discussed Sarao on Bloomberg Law Radio in the segment, “Bloomberg Law Brief: Trump Taxes and Trader Spoofing (Audio),” on Oct. 3, 2016. In it, he joined Professor Peter Henning of Wayne State University Law School. Both Bloomberg Law Radio segments were hosted by June Grasso.
Professor Verstein frequently discusses financial law topics in the media, such as on CNBC’s Squawk Box and Worldwide Exchange, and BBC’s World Report, and in Bloomberg and the Wall Street Journal. He has also written and spoken widely on crowd funding and person to person lending, market manipulation, and nature of financial benchmarks and indices such as Libor.