Credit Suisse Criticized As Banker Gets 30 Month Sentence

Law360, New York (November 22, 2013, 8:19 PM EST) -- A judge on Friday sentenced former Credit Suisse AG investment banker Kareem Serageldin to 30 months for inflating the value of mortgage-linked bonds to mask losses, and he criticized the bank's supposedly "evil climate."

Serageldin, 40, was also ordered to serve two years probation and pay $1.2 million in penalties at a sentencing hearing before U.S. District Judge Alvin H. Hellerstein in Manhattan federal court.

While head of the structured credit group in Credit Suisse's investment banking division in London, Serageldin helped inflate the balance sheet...
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