Ex-Credit Suisse Traders Sued by SEC in Bonus-Boosting CDO Scam

Former Credit Suisse Group AG Global Chief of Synthetic CDO’s Kareen Serageldin was sued by the U.S. Securities and Exchange Commission along with former colleagues David Higgs, Salmaan Siddiqui and Faisal Siddiqui in Manhattan federal court.

Higgs and Salmaan Siddiqui pleaded guilty earlier today in the same court to falsifying records related to collateralized debt obligations as part of a scheme to boost year--end bonuses.