Jim Zhao, a 31-year-old Chinese from Sydney's Northern Suburbs, is sitting in a cell in Silverwater prison awaiting extradition to the United States for trial.
According to reports, in January, the United States launched an arrest across four continents, 11 people were arrested, at least four of the world's largest banks were involved in the turmoil, co-manipulation of Chicago commodity markets for seven years.
Zhao is one of eight people accused of manipulating futures contracts, allegedly using fake orders and immediate cancellations to manipulate prices and then buy and sell for profit.
Deutsche Bank, UBS and HSBC have agreed to pay A $63.3 million in fines for alleged fraudulent manipulation of precious metals futures contracts, while Bank of America Merlin has been implicated but not sanctioned.
The joint fraud case is the largest indictment ever filed in the United States.
Zhao set up an investment company at the age of 21 and set up a Facebook group called LOL, a merger investment / trading club, to advise friends.
According to Zhao, he started profiting from false orders 10 years ago, up to 2300 times.
An analysis of (FBI) 's data from the FBI found that in 1946 transactions, his average active time for large orders was only 0.8 seconds, or 0.14% of the total.
His average active time for small orders was 34 seconds, or 95.1% of the total.
When Chicago commodity trading found something wrong to question Zhao, Zhao's lawyer sent a letter denying the allegation that e-minis was also selling or buying SPI 200 futures contracts on the Australian Stock Exchange. The cancellation was due to the fact that it did not want to disclose trading information to the market.
Seven months later, Zhao was arrested in Rhodes, who appeared in Sydney on May 21 and agreed to extradite.