Flash crash trader fails to meet bail conditions

Navinder Singh Sarao, the 36-year-old British futures trader charged with contributing to a sudden plunge in American stock markets, has not met the conditions of his bail, his lawyer said Wednesday in a London court. He has remained in custody since his arrest on April 21.

The New York Times reports that Sarao, who traded from his parents’ house in west London and appeared in court Wednesday in a gray tracksuit, was granted another week to meet his bail conditions, which include supplying about $7.7m.

His parents were required to contribute around $45,000 toward the total, and his two brothers were required to provide around $15,000 each.

To access the complete New York Times article hit the link below:

British Trader Charged in ‘Flash Crash’ Fails to Post Bail

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