CFTC: Federal Court In Chicago Orders U.K. Resident Navinder Singh Sarao To Pay More Than $38 Million In Monetary Sanctions For Price Manipulation And Spoofing - Sarao Admits To Contributing To Extreme Order Book Imbalance And Causing And Creating Artificial Prices On Multiple Days, Including May 6, 2010 (Flash Crash Day)

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Andrea R. Wood of the U.S. District Court for the Northern District of Illinois entered a Consent Order against Navinder Singh Sarao (Sarao) that requires him to pay a $25,743.174.52 civil monetary penalty and $12,871,587.26 in disgorgement.  The Court’s Order also permanently prohibits Sarao from further violations of the Commodity Exchange Act (CEA) and CFTC Regulations, as charged, and imposes permanent trading and registration bans against Sarao.