'Flash Crash' Trader Extradition Hearing Delayed

An extradition hearing in the case of alleged "flash crash" trader Navinder Sarao has been delayed after US prosecutors submbitted new allegations.

Mr Sarao, who is accused by America of manipulating US stocks to make millions of pounds, appeared at Westminster Magistrates' Court on Friday only to be told his case would be delayed until February 2016 as a new warrant was now required.

The representative for the US Government said the new claims surrounded emails sent by Mr Sarao but he gave no further details.

The US claims he made millions using an "automated trading programme" - and helped cause the Dow Jones index to briefly plunge 1,000 points in May 2010, temporarily wiping off nearly $1tn in market value.

The 36-year-old's defence team argue against his extradition following a recent diagnosis of severe Asperger's Syndrome, the same condition suffered by convicted Libor rate-rigging banker Tom Hayes.

Joel Smith, representing Sarao, said his legal team had only been informed of the new extradition warrant on Thursday night.

He told the court: "Mr Sarao is understandably distressed. His mental health is fragile. It (Other OTC: ITGL - news) adds to the stress and strain these proceedings have put on him."

If the extradition is successful he will face 22 counts of fraud and commodity manipulation, carrying a maximum of 380 years in jail.

Mr Sarao was released on bail and is expected to return to his parents' modest semi-detached house near Heathrow Airport.

The conditions of his bail stipulate that he is unable to travel outside the M25 and restrict him from using the internet for financial purposes.