'Hound of Hounslow' pleads guilty in US court to 'flash crash' fraud
The British financial trader dubbed the Hound of Hounslow has admitted helping trigger a multi-billion-dollar Wall Street crash from a suburban UK home.
Navinder Singh Sarao, 37, appeared in leg shackles when he pleaded guilty to charges linked to the 2010 financial meltdown in a Chicago court room on Wednesday.
Associated Press said the case judge told the Briton he faces up to 30 years in prison after admitting to wire fraud and spoofing under a plea bargain, over the crimes orchestrated from his parents' home 3,500 miles away in west London.
Sarao was sent to the US in October after losing a High Court challenge against a decision to extradite him over the "flash crash", which saw the Dow Jones Industrial Average plunge 600 points in five minutes, wiping tens of billions of pounds off the value of US shares.