Photo: Herve Boinay | Flickr
Credit Suisse’s former global head of structured credit trading Kareem Serageldin was arrested in the U.K. today, the Wall Street Journal’s Chad Bray reports citing a source familiar.According to the report, Serageldin’s arrest is related to allegations put forth in the U.S. back in February alleging that Kareem and others former traders at the Swiss bank conspired to overstate the prices on subprime bonds during the financial crisis.
Kareem is a dual U.S. and U.K. citizen, but he resides in the U.K, the report said. He’s expected to appear in court tomorrow and he’ll likely return to the U.S. to face those charges.
The other former Credit Suisse traders Salmaan Siddiqui and David Higgs already pleaded guilty to the conspiracy charges.
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