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What can one lone trader at home achieve?

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    #51
    Originally posted by BrilloPad View Post
    Flash Crash trader: 'I did nothing wrong' - BBC News

    Mr Sarao denies the charges but was remanded in custody for the third time after failing to raise £5.05m in bail. His lawyers' request that bail be lowered to £50,000 was refused.

    His legal team told Westminster Magistrates' Court he had been unable to raise the funds required by US authorities because they had frozen his assets.

    They really want to hang him out to dry.
    His PC was crammed full of child porn and bomb making instructions too.

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      #52
      Interesting article on the rise and fall of Nav Sarao, the Flash Crash Trader. Includes references to the Montpelier EBT and tax specialist Andrew Thornhill.

      How the Flash Crash Trader’s $50 Million Fortune Vanished - Bloomberg

      Looking to minimize his tax bill, he was introduced by his accountant to John Dupont, a director at the London arm of an Isle of Man-based financial advisory firm called Montpelier Tax Consultants.
      In 2009, on the advice of Montpelier, Sarao entered into a complicated dividend-stripping scheme that resulted in a major reduction in his tax bill
      Sarao had an uncanny ability to attract controversial characters. He sought advice from tax specialist Andrew Thornhill, who in 2015 would be charged by the British barristers’ industry group with five counts of professional misconduct.

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        #53
        Originally posted by greenlake View Post
        Interesting article on the rise and fall of Nav Sarao, the Flash Crash Trader. Includes references to the Montpelier EBT and tax specialist Andrew Thornhill.

        How the Flash Crash Trader’s $50 Million Fortune Vanished - Bloomberg
        And his accountant lived in Wakefield...

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          #54
          You can do it with crypto-currencies... just saying like.

          On that note, some of those CC are becoming more resilient to volatility, which is interesting.
          Last edited by scooterscot; 12 February 2017, 09:20.
          "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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            #55
            Total mystery to me how that could happen. Used to work on aircraft control systems, crashing those was much easier.
            bloggoth

            If everything isn't black and white, I say, 'Why the hell not?'
            John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)

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              #56
              Originally posted by greenlake View Post
              Interesting article on the rise and fall of Nav Sarao, the Flash Crash Trader. Includes references to the Montpelier EBT and tax specialist Andrew Thornhill.

              How the Flash Crash Trader’s $50 Million Fortune Vanished - Bloomberg
              If only he had read CUK in 2008, he would have known to avoid MTM in 2009.

              Not reading CUK leads to poverty. DP will not be a millionaire without CUK. Though all those brothels and illicit gold deals help.

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