Flash Crash trader’ fails to delay extradition case

Storm clouds

Navinder Singh Sarao, the trader charged over his role in the 2010 U.S. flash crash, lost a bid to delay extradition proceedings next month.

Bloomberg News reports that Sarao, wearing a gray suit and sneakers, appeared in court for the first time since being released on bail. He asked a London judge for more time to prepare an expert report on trading, but the judge rejected the request, saying the issue was irrelevant to the question of extradition to the U.S.

The 36-year-old Sarao was released on bail two weeks ago after four months in jail. He was arrested in April at his house in London’s Hounslow neighborhood, and charged by U.S. prosecutors with fraud and market manipulation. Authorities said he was responsible for one in five sell orders during the frenzy on May 6, 2010, when investors saw almost $1 trillion erased from U.S. stocks in minutes.

Hit the link below to access the complete Bloomberg article:

‘Flash Crash Trader’ Sarao Fails to Delay Extradition Case

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