From the article:
“So guy drives a car which costs more than most Americans will make in a decade (pretax), crashes in what may have been an improvised drag race, kills an innocent bystander, and promptly posts bail and is allowed to roam, and drive, in freedom.
Meanwhile Nav Sarao rots in the UK’s worst prison unable to pay his ridiculous $5 million bail, for the simple reason that he was a good trader and dared to expose the HFTs’ rigging to regulators. He faces a maximum sentence of 380 years in jail.”
– Deutsche Bank Head Of Asia-Pac Equities Loses Control Of His $580,000 Ferrari, Kills Innocent Bystander (ZeroHedge, June 10, 2015):
Police said the arrested driver, whom it identified only as James, had said he lost control of his car. The police said a 53-year-old man, who was next to the barriers, died after suffering serious head and shoulder injuries. He was pronounced dead in the hospital early in the afternoon.
The Apple Daily newspaper also identified the driver as Ebert and said he was driving a black, HK$4.5 million ($580,502) Ferrari 458 Spider, which was in collision with a HK$2.4 million Maserati at the car park entrance before hitting a security guard.
The police said the driver was not charged. “We are investigating whether the car was driving beyond the speed limit of 30km/h at the time,” a police source said.
It is safe to say the answer is yes, as a simple check of the security cameras would confirm.
Ebert was released on bail in the early hours of Wednesday and has to report back in mid-July, the police said.
Ejiinsight adds that Ebert’s car went on to sweep across three barricades and hit the guard, who was pinned to a post at the carpark entrance.
Koo was rushed to the hospital but was pronounced dead by 2 p.m.
Ebert and the Maserati driver were unhurt. Police said both drivers passed a breathalyser test.
Skid marks stretching 10 meters were found at the entrance of the carpark.
Ebert told police his car had a brake failure. He was arrested on suspicion of dangerous driving causing death.
So guy drives a car which costs more than most Americans will make in a decade (pretax), crashes in what may have been an improvised drag race, kills an innocent bystander, and promptly posts bail and is allowed to roam, and drive, in freedom.
Meanwhile Nav Sarao rots in the UK’s worst prison unable to pay his ridiculous $5 million bail, for the simple reason that he was a good trader and dared to expose the HFTs’ rigging to regulators. He faces a maximum sentence of 380 years in jail.
It’s ok though: when Stan Fischer and Mark Carney said bankers have to go to prison for “at least” 10 years when caught rigging markets they said nothing about bankers who engage in homicide. It appears the legal system will need a central bank explainer on how to proceed in that specific case.