While day after day, we get news about dark pools and HFTs openly and flagrantly rigging markets whether it is ITG or Credit Suisse, or any and every other HFT boiler room outfit, criminally frontrunning order flow, and generally confirming fears that the stock market is nothing but a rigged casino, the biggest farce remains in prison, in the form of "flash crash mastermind" Navinder Sarao, who several months ago was accused by the most corrupt and captured US and UK regulators for causing the May 2010 flash crash (because nobody believes the previous BS about Waddell And Reed), a crime for which he faces over a hundred years in total possible prison time. An even bigger farce was that since his arrest he remained in prison, because he couldn't afford to pay his £5.05 million bail as most of his assets had been frozen: In other words, he was being treated not just as any criminal, but as the worst of the lot, those who remain a huge threat to society. Why? Because as we expalined before, he threatened to expose the criminal tricks of his natural competitors, the HFTs. Which incidentally is what got him arrested in the first place, and not just that, but because he showed that a slow-frequency trader could beat the HFTs at their own game. What better way to eliminate the competition than to put it behind bars for life. Well, earlier today, at least one of these farces was remedied when a UK judge granted Sarao a bail reduction from £5m to £50,000 and was allowed to leave prison as soon as today. As profiled before, Sarao had been at the infamous Wandsworth prison - Britain's worst - since his arrest. As the FT reports, at a court hearing at Westminster Magistrates Court in London today, a lawyer for the US said he would not oppose the bail reduction. As BBC further adds, the court forced him to disclose the whereabouts of his money and was told he had funds of more than £30m, £25.5m of it in Swiss accounts. Mr Sarao told an earlier hearing at Westminster Magistrates' Court that he had not "done anything wrong, apart from being good at my job". The other bail conditions are that he must stay at his parents' address in Hounslow, west London, each night, and must not travel internationally or use the internet. Because who knows just what the next market crash would be if, heaven forbid, the London suburb resident is allowed within 50 feet of an E-trade account. The court was also told that Mr Sarao had been diagnosed with severe Asperger's syndrome. Just like Tom Hayes, the infamous Libor manipulator, who tried using Asperger's as his defense. But getting conditional freedom while he awaits trial is just one part of it. Next Sarao will be fighting extradition to the US: a full extradition hearing is scheduled for 24-25 September. "The DoJ claims that Mr Sarao and his firm, Nav Sarao Futures, made £26m ($40m) illegally over five years." He has been accused of using an "automated trading program" to manipulate markets, and of contributing to the flash crash of 6 May 2010. On that day, the Dow Jones index lost 700 points in a matter of minutes - wiping about $800bn off the value of US shares - before recovering just as quickly. He was granted bail in April. But one condition of bail was that he put up £5m - money which he could not access because of a worldwide freezing order granted in the US. Yes, because all that is rigged and broken with the market is as a result of Navinder Sarao. Not the massive HFT lobby which throws tens of millions of bribes at the SEC every week just to make sure they look elsewhere, while crimes such as ITG's frontrunning of clients conducted by a "trader" who would then lead the trading desk as the world's 4th biggest hedge fund, continue without a glitch.