Trader protests innocence.
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.
A self-described insomniac, Navinder Singh Sarao railed against high-speed traders for corrupting financial markets and defended his own rapid-fire success as the benefit of a quick mind.
Navinder Singh Sarao, known as the trader whose actions may have helped cause the 2010 flash crash, will on Friday find out whether he will be extradited to face charges in the U.S.
The British day trader accused of contributing to the 2010 flash crash enlisted a computer programmer to help him work out a system to manipulate stock prices, e-mailing pleas for help perfecting his 'spoofing' efforts, U.S. prosecutors said in an indictment.
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.