Credit Suisse Ex-Trader Could Be Extradited On Fraud Charge

A Credit Suisse Group AG (NYSE:CS) ex-trader, currently resident in the United Kingdom, has had his extradition to the United States approved by a British court. The banker has been charged with fraud, relating to mortgage backed securities trades during the financial crisis.

Kareem Serageldin, who was formerly the head of the Credit Suisse Group AG (NYSE:CS) global trade in Collateralized Debt Obligations, agreed to the extradition today. The extradition deal must be approved by the United Kingdom’s Home Secretary before it can be followed through on. That approval is regular practice...