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 hasn't been paid and it can'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 US 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 .