☰

Global

UK trader accused of 'flash crash' role opposes extradition to U.S.


    LONDON (Reuters) - Navinder Singh Sarao, a trader accused by U.S. authorities of an illegal role in the "flash crash" that briefly wiped out nearly $1 trillion in market value in May 2010, told a London court on Wednesday he opposed being extradited to the United States.

    The U.S. Justice Department said on Tuesday that it had criminally charged Sarao, 36, of London, with wire fraud, commodities fraud and manipulation.

    Sarao, who was arrested by British police on Tuesday, appeared at Westminster Magistrates' Court.

    (Reporting by Michael Holden, writing by Estelle Shirbon; editing by Stephen Addison)