‘Hound of Hounslow’ Navinder Sarao lingers in jail with £5 million bail billComments Off on ‘Hound of Hounslow’ Navinder Sarao lingers in jail with £5 million bail bill
A Westminster magistrates’ court clerk said Sarao remains jailed at Wandsworth prison, having failed to pay the hefty bail.
The futures trader’s law firm Tuckers Solicitors did not comment but it is thought he is finding it difficult to get access to his funds, which are thought to be invested offshore, according to documents filed by the US government.
At his bail hearing, Sarao’s barrister Joel Smith said he had £5 million in trading accounts, £4.7 million of which was a loan.
Prom night: Navinder Sarao pictured aged 16 at his prom in 1995
Judge Quentin Purdy last week set strict bail terms to prevent Sarao from fleeing.
The Standard revealed last week that Sarao made more than £30 million profit dealing from his parents’ home in four years.
Modest: the registered address of Nav Sarao Futures Ltd, a trading company operated by Navinder Singh Sarao (Picture: AFP)
FBI agents are investigating claims that the 36-year-old transferred as much as £26 million to banks in the Caribbean.
US investigators allege that he has hidden money in a “complex web” of offshore accounts.