New charges for ‘Hound of Hounslow’ trader

New charges: 'Hound of Hounslow' Navinder Singh Sarao
Paul Cheston25 September 2015
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The British trader dubbed the Hound of Hounslow accused of triggering a 500 billion pound Wall Street crash was today confronted with new charges.

Navinder Singh Sarao, 37, arrived at Westminster Magistrates Cout to be told a fresh arrest warrant had been issued.

The US authorities seeking his extradition now say his criminal activity stretched over six months longer than first claimed.

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

The trader is accused of wiping the US stock markets of billions of dollars in a matter of seconds from a computer at his parent's house in Hounslow.Â

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

He was arrested in April, accused of making £27million over five years dating back to 2009 by flooding the markets with fake buyers and profiting from the subsequent fall in share prices.

Now the allegations date back a further six months with new evidence of emails said to have been sent by Sarao, the court heard.

The full extradition hearing had been due to take place today but that has now been put back to a date to be confirmed.

The delay has been caused partly by the new allegations and partly by an injury this morning to Sarao's QC James Lewis which prevented him from coming to court.

John Smith, representing Sarao today, told the court that the defendant, who has been diagnosed wth Asperger's Syndrome, has "fragile health" and the sudden production of the new allegations has distressed him.

Sarao, of Hounslow, was remanded on continuing bail. The next hearing will take place on October 22 and the full extradition trial was fixed for a two-day hearing starting on February 4 next year.

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