had a reasonable basis to believe that disclosure to the SEC was necessary to prevent imminent misconduct from causing substanital harm to the company or investors.
On April 21, 2015, Nvinder Singh Sarao, 36, Hounslow, United Kingdom was named as a Defendant in a criminal Complaint alleging 1 count of wire fraud, 10 counts of commodities fraud, 10 counts of commodities manipulation, and 1 count of "spoofing." United States of America, Plaintiff, v. Nvinder Singh Sarao, Defendant (Complaint, NDIll, 15-CR-75, February 11, 2015).Sarao was arrested and is facing extradition to the United States pursuant to an unsealed Complaint. The allegations suggest that he was responsible (in whole or in part) for the infamous May 6, 2010 "Flash Crash" which saw various market indices plummet within a matter of minutes. At the heart of the government's Complaint is the assertion that Sarao used an automated trading program to manipulate the E-Mini S&P 500 futures contracts on the Chicago Mercantile Exchange. READ