The rogue trader facing charges he manipulated the share market and helped trigger a trillion dollar Wall Street crash will remain in jail for the weekend after failing to pay his £5million bail . Navinder Singh Sarao , 37 , is facing extradition and is wanted by American prosecutors after allegedly causing the 2010 Wall Street 'flash crash ' and making more than £26 million using a fraudulent trading technique . Sarao , of Hounslow , west London , appeared at Westminster Magistrates ' Court on Wednesday and was bailed with a surety of £5 million . Suspected rogue trader Navinder Sarao ( circled ) lived in his parents ' modest home because it gave him a split-second advantage worth millions of pounds . Sarao ( pictured in court ) spent a third night in custody last night after failing to pay the £5million surety demanded by the courts to grant him bail . However , he has remained behind bars since his brief appearance , and will remain there over the weekend after an official from the magistrates ' court today said it had not received the money . The spokeswoman said : 'It has n't been paid and it ca n't be paid over the weekend . He will therefore remain in custody until at least Monday when he is able to pay the money . ' The former Brunel University student allegedly made £550,000 in five minutes on the day of the 'Flash Crash ' , the biggest one-day collapse in Wall Street history . He is accused of using computer programs to create 'spoof ' transactions on the Chicago Mercantile Exchange , and faces charges which could carry a 380-year prison sentence . It 's claimed he did all this from his parents ' semi-detached home in Hounslow , west London , where he ran his one man trading company . He was arrested at the address on Tuesday afternoon at the request of American prosecutors . Under bail conditions he will be tagged and he has surrendered his passport and must live at the family home - keeping to a curfew of between 11pm and 4am at that address . His parents have also agreed to surrender their passports as part of the bail conditions . A full extradition hearing for Sarao has been set for August 18th and 19th , with a preliminary hearing on May 26th . Sarao 's family 's semi-detached house in suburban west London ( pictured ) , from where he traded . After his arrest earlier this week made headlines across the world , details of his life have been revealed by former colleagues . One of which told MailOnline today : 'He was a super human trader - we were in awe of his ability to make money . When he left Futex he took £2.5million from his account with him . That was unheard of . 'We were all encouraged to set up offshore accounts . If he has as much money as people think then that 's where it 'll be . ' He is said to have 'loved making money , not spending it ' , and friend told MailOnline he would make £250,000 a day trading . Despite his alleged wealth he would travel to work late so he could buy off-peak tickets , only have lunch if he could find cut price sandwiches and shunned drinking in pubs for pints of milk at his desk . Sorry we are not currently accepting comments on this article .
Navinder Singh Sarao is facing extradition and wanted by west London authorities . He is alleged to have helped trigger a trillion dollar Wall Street 'flash crash ' Sarao will spend the weekend in jail after failing to pay his £5m bail .