This is a major result for Nav, who is due to be sentenced in Chicago on Jan 28th. Originally, the government recommended a range of 78 to 97 months. It's still up to the judge but a very positive development.
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For several years, Nav was among the biggest e-mini traders in the world, despite operating his bedroom in Hounslow. He made at least $13m spoofing, according to the DOJ, so avoiding prison would be a remarkable outcome.
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“For the foregoing reasons, the gov respectfully recommends that this Court depart significantly below the advisory Sentencing Guidelines range. Specifically, the government agrees with the Probation Officer and the defendant that a sentence of time served would be appropriate.”
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Sarao "resides with and is cared for and supported by his parents, uses coupons to buy food at McDonald’s, lives in a child-like bedroom that includes multiple stuffed animals and his current primary income is from UK government benefits."
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I'm curious-he would trade 50/100 lots and did so for ages and only made 13 mill? 109 lots =5k per point, 1.25k per tick. Multiple times a day.
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He made $70m, $13m of which the government attributed to spoofing. On a single day in 2011 he made $4m. He also had some pretty major down days.
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Just laughable to think he caused anything.
Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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Yet the CFTC has almost bankrupted an innocent software developer Jitesh Thakkar.
#JusticeforJiteshHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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Čini se da učitavanje traje već neko vrijeme.
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