Ex-Credit Suisse Exec Admits To Cooking MBS Books

Law360, New York (April 12, 2013, 1:52 PM EDT) -- Former Credit Suisse AG investment banker Kareem Serageldin pled guilty in New York federal court Friday to charges of inflating the value of mortgage-linked bonds to mask losses in the wake of the subprime mortgage market's collapse.

Serageldin, 39, former head of the structured credit group in Credit Suisse's investment banking division, copped to one count of conspiracy to falsify books and records and agreed to forfeit approximately $1 million.

“I made a terrible mistake and deeply regret its impact,” Serageldin told U.S. District Judge Alvin...
To view the full article, register now.