“Flash crash” trader’s extradition hearing postponed in United Kingdom court

Sarao, who was arrested by United Kingdom authorities in April, is accused of amassing a almost £30 million fortune.

The hearing was put back after the court heard that Sarao’s barrister, James Lewis QC, had injured himself when leaving home on the morning before the court hearing.

A frsh warrant has been issued to take on the new allegations laid before a Grand Jury in the USA earlier his month.

District judge Quentin Purdy, sitting at Westminster Magistrates’ Court, granted his renewed application for bail with a number of conditions. He then cancelled those trades and bought contracts at lower prices, prosecutors say.

The flash crash saw the Dow Jones Industrial Average briefly plunge more than 1,000 points on May 6, 2010, temporarily wiping out almost $1 trillion in market value.

Sarao faces a sentence of up to 380 years in a U.S. jail if convicted of masterminding the 2010 ‘flash crash’ fraud on a Chicago-based stock exchange.

The 36-year-old has already spent four months behind bars after failing to meet £5m bail terms because his assets had been frozen.

He has previously said he has done nothing wrong except “being good at my job”.

“It was disappointing for Mr Sarao, who is understandably distressed by proceedings”.

The case was adjourned until October. 22 for further preliminary legal arguments on whether expert evidence about conduct in US markets should be admissible, ahead of the substantive extradition next February.

“It was disappointing to be be informed at about 9pm last night that a fresh request [for Mr Sarao’s extradition] was being issued”, he said.

‘His mental state is fragile’.

His lawyers are likely to argue against extradition on the grounds of his recently diagnosed severe Asperger’s Syndrome, a form of autism which often affects people with high intelligence and can lead to difficulty communicating and interacting with other people.