David Higgs

Ex-Credit Suisse CDO Chief Pleads Guilty to Conspiracy

Kareem Serageldin, the ex-global head of Credit Suisse Group AG’s structured credit trading business, pleaded guilty to conspiracy, saying that when he discovered subordinates falsifying the value of mortgage-backed bonds in late 2007, he joined the scheme rather than stop it.

Ex-Credit Suisse CDO Chief Serageldin to Plead Guilty

Kareem Serageldin, the ex-global head of Credit Suisse Group AG’s structured credit trading business, is scheduled to plead guilty to criminal charges today in Manhattan federal court, a court clerk said.

Ex-Credit Suisse CDO Chief Pleads Not Guilty in Fraud

Kareem Serageldin, the ex-global head of Credit Suisse Group AG’s structured credit trading business, pleaded not guilty to charges he led a 2007 scheme to mark up the value of debt securities to meet targets and boost year-end bonuses for his $5.35 billion trading book.

Ex-Credit Suisse CDO Chief Serageldin to Be Arraigned

Kareem Serageldin, the ex-global head of Credit Suisse Group AG’s structured credit trading business, will be arraigned today for an alleged 2007 scheme to mark up the value of debt securities to meet targets and boost year-end bonuses for his $5.35 billion trading book.

Ex-Credit Suisse Trader Higgs Is Cooperating, U.S. Says

Ex-Credit Suisse Group AG trader David Higgs may testify against Kareem Serageldin, the former global head of the bank’s CDO business charged in a bonus- boosting fraud scheme, U.S. prosecutors said.

Ex-Credit Suisse CDO Chief Charged With Falsifying Prices to Boost Bonuses

Kareem Serageldin, Credit Suisse Group AG’s former global head of structured credit trading, was charged in a scheme to falsify prices tied to collateralized debt obligations to meet targets and boost year-end bonuses for his $5.35 billion trading book.

Ex-Credit Suisse CDO Boss Says He Will Fight For Deal

Kareem Serageldin, the ex-global head of Credit Suisse Group AG’s CDO business charged in a bonus-boosting fraud tied to a $5.35 billion trading book, plans to fight extradition to the U.S. until he reaches a plea deal.

Credit Suisse, Standard, BAA, Glaxo, Apple in Court News

Kareem Serageldin, Credit Suisse Group AG’s former global head of structured credit trading, was charged in a scheme to falsify prices tied to collateralized debt obligations to meet targets and boost year-end bonuses for his $5.35 billion trading book.

Credit Suisse, JPMorgan, Barclays, Wal-Mart in Court News

Kareem Serageldin, the ex-global head of Credit Suisse Group AG’s CDO business charged in a bonus- boosting fraud tied to a $5.35 billion trading book, was surprised by the U.S. indictment since he has been cooperating with investigators for four years, his lawyer said.

Ex-Credit Suisse Employee Higgs Says He Wants to Plead Guilty

Former Credit Suisse Group AG employee David Higgs told a federal judge in Manhattan today that he wants to plead guilty.

"I, with the agreement and assistance of Kareem Serageldin and others, manipulated and inflated the cash bond position markings of a trading book referred to as ABN1, in order to hide losses in this book and to achieve specific daily and month-end profit and loss objectives. As a result of my actions, senior management of Credit Suisse was given the false impression that the ABN1 book was profitable and caused Credit Suisse to report false year-end numbers for 2007 in their books and records."

- David Higgs on Feb 01, 2012

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