Flash crash trader's CME seat: bought for $435,000, now worth just $69,500

April 24, 2015 3:35 PM

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SAN FRANCISCO/CHICAGO, April 24 (Reuters) - The UK-based trader accused by U.S. authorities of making more than $40 million manipulating markets and contributing to the 2010 Wall Street flash crash was on the losing end of at least one trade: his purchase of the CME Group seat that helped to make the alleged scheme possible.

Navinder Sarao bought the seat in May 2008 for $435,000, only a few months before the financial crisis hit, exchange records show; it's now valued at just $69,500, an 84 percent decline. He still owns it, an exchange spokeswoman confirmed.

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