A British trader accused of causing the stock market to crash and wiping hundreds of billions off the value of US shares in minutes paid £5 million of his own money to win bail yesterday.
American prosecutors have demanded the extradition of Navinder Sarao, 36, over claims that the futures trader launched an enormous selling spree from his parents’ semi-detached house in Hounslow, triggering the “flash crash” in May 2010. He has been warned that if convicted he could face a jail sentence of 380 years.
Appearing at Westminster magistrates court yesterday, Mr Sarao confirmed that he would fight extradition to the US.
The Times can reveal Mr Sarao began his trading career at Futex, in Woking, where veteran traders taught the Brunel University graduate