James Craig, a 65 years pensioner from the UK has been charged for using Twitter to manipulate price of the Nasdaq exchange in January 2013. According to the claim, James Craig tweeted about safety risks while travelling to Tunisia because of surged terror attacks.
As per the American Government, accused tried to distort the prices of the Nadaq exchange purposefully which resulted in the fall of the stock exchange price by more than a million. The rumours started by James was the sole reason for such havoc.
Later, when the stock prices went down, James bought the shares and sold them for profit once the rumours were side-lined. He made huge profit with this scam. Because of which, the US securities and exchange department wanted to deport James to the USA for stand trials.
James legal team and attorneys argued with the session court last year that the government of UK failed to present a safeguard called Forum Bar into Scots law. According to this rule, British courts can halt extraditions in case the crime is bespoke and happened in the UK.
Moreover, Legal experts have deemed that the same rule could be applied to the cases in which British citizens are suspected to have committed Internet fraud crimes.
However, Sheriff Norman McFadyen suggested that sending Mr Craig the USA would be the right decision. Later, on Friday, a Crown Office spokesman confirmed that the Scottish Government have two months to decide whether to authorise James’ extradition to the USA or not.
Fred MacKintosh, James’ lawyer argued in June 2019 that the consequence of the Court of Session ruling clearly enables the stance that Mr Craig should not be deported to the US.
In his own words, “Mr Craig can be fairly tried here and extradition does not need to proceed. The failure to commence Forum Bar provision is not in accordance with the law.”
Lord Malcolm, judge at the Court of Session issued a statement last year that there are few lawyers who were concerned that the decision of the Forum bar would compromise the independence of Scottish prosecutors.
As per the forum bar rules, the Crown lawyers would need to explain the reason for their decision in front of a judge. However, this does not happen currently. According to the judgement of Lord Malclom, a former English judge would examine the Forum Bar’s implications on Scots law.
In June, fiscal Thomas Crosbie, a depute procurator added during a court session that Mr James Craig must be extradited to US as the Forum Bar hadn’t been introduced into Scots law.
He further added, “There seems to not have been an attempt to obtain a declarator to change the law. The law has not changed.”
According to his stand, he deems that Mr. Craig attempts to break the exchange price had affected the US citizen which makes him guilty to US and he must be brought for stand trial to the USA.
He deemed, “The offense was directed towards America. The harm was felt in America.”
According to the reports, Sheriff McFadyen has given statement in favour of the submissions made by the Crown. It is the Scottish Ministers turn to decide whether to allow the extradition or not.