From City AM:
British trader Navinder Sarao who was responsible for the so-called flash crash in 2010 has been sentenced to one year home incarceration. Sarao was arrested in 2015 and pleaded guilty to illegally manipulating the stock markets.
The sentence, which was handed down by a Chicago court yesterday, was thrown into doubt after lawyers said it would be unenforceable (1) outside the US, according to The Guardian.
Following recess, Judge Virginia Kendall of the northern district of Illinois, was satisfied Sarao would only be allowed to leave the house in a handful of circumstances (2).
1. Of course it is not enforceable if Mr S is outside the UK.
2. I got the impression that Mr S is a computer geek who is perfectly happy staying at his parents' house 24/7, he now has a good excuse when his Mum tells me to go outside and get some fresh air or meet a nice girl. He probably punched the air and shouted "Yes!". Unless Judge Kendall ruled that his Mum can decide what those circumstances are?
3. Mr S was entirely innocent anyway, so this is a neat way of letting him off the hook.
Debate Magazine
