Scot accused of US fraud loses extradition case

A sheriff has ruled it would be lawful to extradite Mr Craig to the US

A Scottish man wanted by US authorities over his alleged involvement in a £1.1m shares scam has lost his legal bid to avoid extradition.

James Craig, 65, of Dunragit near Stranraer, is accused of using Twitter to distort prices on the Nasdaq exchange in January 2013.

A sheriff has now ruled that it would be lawful to extradite him to the US.

A Crown Office spokesman said the Scottish government now had two months to decide whether to authorise it.

Mr Craig's legal team successfully argued in the Court of Session last year that the UK government had acted unlawfully in failing to introduce a safeguard called the "forum bar" into Scots law.

The rule allows British courts to halt extraditions if an alleged crime is commissioned and mostly happened in the UK.

Legal experts reckon the forum bar rule could be applied in cases where British citizens are alleged to have committed crimes like Internet fraud.

However, this week, Sheriff Norman McFadyen ruled it would be lawful for Mr Craig - who has denied the allegations - to be extradited.

Scottish ministers now need to decide whether to authorise the move.