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Navinder Singh Sarao, 36, has been charged by the U.S.
Justice Department with wire fraud, commodities fraud and market
manipulation.
After his arrest by British police three weeks ago, he was
granted conditional bail provided he produced just over 5
million pounds and met other conditions.
But Sarao, who traded from his parents' modest home in west
London, has failed to raise the cash because his assets have
been frozen and judges have refused to lower the bail security
required to secure his release.
His lawyer Joel Smith told London's Westminster Magistrates'
Court that an application to vary the bail conditions had been
made to the High Court and that there would be a hearing next
Wednesday.
Sarao spoke only to confirm his age and address but last week,
in an outburst during a hearing, he denied any wrongdoing.
"I've not done anything wrong apart from being good at my job.
How is this allowed to go on, man?" he said.
Smith said on Wednesday Sarao had been unable to fund his legal
team and had been granted legal aid this week.
A review hearing is due to take place on May 26, but Smith said
that following the successful application for legal aid, they
wanted this to be delayed until June 3.
(Reporting by Michael Holden; editing by Stephen Addison)
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