US 'Flash Crash': Spoofing Wall Street, Phantom Orders And Other Market Abuses

Insider trading and fraud in financial markets can never be fully eradicated, as highlighted only too well by the multi-billion rogue trading cases involving Jérôme Kerviel, who lost French bank Société Générale €4.9bn in 2008, Kweku Adoboli at UBS in 2011 and Barings’ Nick Leeson. Now the name Navinder Singh Sarao joins the list over the US ‘flash crash’.