Which trader was convicted for contributing to the 2010 United States Flash Crash?

Navinder Singh Sarao was convicted for contributing to the 2010 United States Flash Crash.

On May 6, 2010, major U.S. stock indexes plunged rapidly and then recovered much of the loss within minutes. The Dow Jones Industrial Average briefly fell about 1,000 points, creating one of the most dramatic intraday market disruptions in modern history.

U.S. prosecutors accused Sarao of using spoofing orders in E-mini S&P 500 futures. Spoofing involves placing orders with an apparent intention to cancel them before execution, potentially creating a misleading impression of market supply or demand. Sarao pleaded guilty in 2016.

Official investigations concluded that the crash resulted from interactions among automated trading, market conditions, and large orders; it was not attributed solely to one trader. The event led to renewed attention on circuit breakers and electronic-market supervision.