US v Jitesh Thakkar: Waiting for the Denouement

Thom Thompson

Thom Thompson

Contributing Editor

According to Merriam Webster, the (second) definition of “denouement” is “the outcome of a complex sequence of events.”

On Monday, April 8, the twelve members of the jury in the trial (surely “a complex sequence of events”) of Jitesh Thakkar for allegedly aiding and abetting Navinder Sarao’s 2013 spoofing of the CME’s E-mini S&P 500 futures heard final arguments and retired to deliberate. Which they did over a more than 24 hour period.

But, as we reported, the jurors found no unanimity and were sent home late Tuesday afternoon. There was no final outcome, no denouement.

Wednesday the prosecution and the defense returned to Gettleman’s court to explore how they were going to arrive at a denouement in the case. The defense, probably most of the gallery, and maybe even Gettleman hoped that the three U.S. Department of Justice attorneys for the prosecution would step up and say “the hell with it” and drop the two remaining charges. There was hope in some quarters, otherwise, that Judge Gettleman would dismiss the charges if the prosecution did not drop their case. The prosecution asked for time to decide its next steps.

So the case will proceed until it doesn’t anymore. The next date for a possible denouement is April 25 when the parties will reconvene to hear if the prosecution, which brought only two of the twelve jurors to its side during a massive, serious, and expensive undertaking, still believes that 1) Thakkar is guilty “beyond a reasonable doubt” AND 2) they can prove it. If the prosecution wants to continue its case, the defense, along with probably the rest of us, will hope that Judge Gettlemans states what seems obvious: their case is thin at best and there is not enough evidence to convince a jury that Thakkar is guilty; “case dismissed.”

But those are all actions for another day. And in the meantime Jitesh Thakkar and his family and his friends wait and hope for a happy denouement.


You can help support Jitesh’s legal defense fund by contributing to his “Go Fund Me” campaign. The link is here: . Thank you.

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