The high-frequency futures trader accused of being behind the May 2010 stock market "flash crash" will be extradited to the U.S., a British judge has ruled.
First arrested in April 2015, the U.S. Justice Department charged Navinder Singh Sarao, 36, of west London, has been charged with wire fraud, commodities fraud and manipulation, and one count of "spoofing"—when a trader places a bid or offer with the intent of cancelling it before execution.
Sarao denies any wrongdoing and his defense team will appeal against Wednesday's decision, according to Reuters.
In September 2015, Sarao's lawyers argued against his extradition on the grounds of his recently diagnosed severe Asperger's Syndrome, a form of autism which often affects people with high intelligence, and that his current "mental health was fragile. They also argued that Sarao's conduct, as it is described in U.S. court filings, does not amount to a criminal offence in the U.K. The latter was seen as a key focus for the hearing on Wednesday which decided on his extradition.