Bail for accused UK 'flash crash' trader set at $8 million

Reuters

LONDON (Reuters) - A London court granted conditional bail on Wednesday to Navinder Singh Sarao, a trader accused by U.S. authorities of illegally stoking the May 2010 Wall Street "flash crash", and set the required surety at 5.05 million pounds ($8 million).

Sarao, who opposes extradition to the United States to face trial in an Illinois court, is required to post 5 million pounds himself while his closest relatives must produce the remaining 50,000 pounds.

Sarao's passport has been taken away from him and his bail conditions include other restrictions on his movements.

(Reporting by Michael Holden, writing by Estelle Shirbon; editing by Stephen Addison)