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US extradition request for defendant charged with electronic stock market manipulation was valid

Government of the United States of America v Sarao

Related Member(s):
Mark Summers QC, Aaron Watkins
Related Practice Area(s):
Crime and Regulatory Law, Extradition and Mutual Assistance, Fraud, Financial and Business Crime
Court:

The requesting state sought extradition of the defendant to face trial for electronically manipulating the Chicago Mercantile Exchange, which allegedly led the market to fall or climb to the value of $40 million. The defendant argued that crimes which he was accused of were not offences in the UK, and that if a trial was necessary, it was in the interests of justice for it to occur in this jurisdiction.  He also argued that the extradition would infringe ECHR, art 8 and that the US request was an abuse of process, because it was premised on a materially misleading factual basis. Held: The extradition request was valid. Mark Summers QC and Aaron Watkins were involved in this case.