Sarao Remains in Jail After Failing to Pay Bail at Hearing
A prison van arrives at Westminster Magistrates Court where trader Navinder Singh Sarao is due to appear after failing to raise the cash needed to make bail.
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Navinder Singh Sarao, the British trader facing U.S. charges for his alleged role in the 2010 flash crash, returned to Wandsworth prison after he failed to pay the 5 million pounds ($7.7 million) required for his bail.
Sarao, 36, has been in custody since April 21, when he was arrested at the house he shares with his parents near Heathrow airport. The terms he must meet to be released on bail were extended by one week at a hearing at Westminster Magistrates’ Court in London Wednesday.