Flash Crash Trader Struck Agreement with Credit Suisse
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The family home of Navinder Singh Sarao, on a suburban street outside London.Simon Dawson/Bloomberg News
The vehicle used by the U.K. trader now blamed for helping cause the 2010 ‘flash crash’ entered into a security agreement with an arm of Credit Suisse Group A.G CS -0.08%. two days before the crash.
Nav Sarao Futures Limited filed a document to the U.K. financial register, Companies House, on May 4 2010, that pledged the company’s credit balances, securities, metals and any property to Credit Suisse (UK) Limited, in return for liabilities.
The document does not explain exactly what Nav Sarao received in return, if anything. However the documents said the agreement will remain in place until “the liabilities have been paid irrevocably and unconditionally discharged in full.”
Navinder Sarao, the founder of Nav Sarao, was arrested by British authorities on Tuesday. He has vowed to fight plans to plans to extradite him to the U.S…
Flash Crash Trader Struck Agreement with Credit Suisse
