LONDON (AP) - A judge in Britain has granted U.K. trader conditional bail while he contests extradition to the United States to face charges of being a key figure in bringing about the 2010 “flash crash” - when the Dow Jones Industrial Average plunged 600 points in five minutes.
District Judge Quentin Purdy granted conditional bail to Navinder Singh Sarao, saying he must provide a security of 5 million pounds ($7.4 million) - the amount he has in his trading account. His parents also have to provide a security of 50,000 pounds.
Sarao also was ordered to surrender his passport and report to a police station three times a week.
He is accused of using lightning-fast software to manipulate the market for E-Mini S&P 500 futures contracts on the Chicago Mercantile Exchange.
Please read our comment policy before commenting.