Ex-Credit Suisse CDO Chief Pleads Guilty to Conspiracy
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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.
“Why did you do that?” U.S. District Judge Alvin Hellerstein asked Serageldin today in Manhattan federal court.