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Accused trader loses new bail bid

Navinder Singh Sarao, 36, the British financial trader accused of helping trigger a multibillion-dollar US stock market crash, has lost his High Court bid for bail while he fights extradition to America.

Today, Mr Justice Cranston, sitting in London, refused Mr Sarao's renewed application for bail, saying there was "a clear risk" of him taking flight.

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CFTC says it will find manipulators 'wherever they may be'

The US Commodity Futures Trading Commission (CFTC) said it will find and prosecute market manipulators "wherever they may be."

The Hounslow address given at Westminster Magistrates' Court for the trader. Credit: Neil Lancefield/PA Wire

CFTC director of enforcement Aitan Goelman said:

Protecting the integrity and stability of the US futures markets is critical to ensuring a properly-functioning financial system.

Today's actions make clear that the CFTC, working with its partners on the criminal side, will find and prosecute manipulators of US futures markets wherever they may be.

– CFTC's Aitan Goelman

Goelman was speaking ahead of the court appearance of a British trader accused of "spoofing" trades in connection with the US stock market "Flash Crash" five years ago.

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