NEW YORK: A former Credit Suisse Group AG trader pleaded guilty to a conspiracy charge on Friday in a U.S. criminal case relating to the alleged inflation of subprime mortgage bond prices.
Kareem Serageldin, the Swiss bank's former global head of structured credit, pleaded guilty to conspiracy to falsify books and records at a hearing in Manhattan federal court. He faces up to five years in prison, according to the U.S. Justice Department.
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