Friday, March 15, 2013

Kareemed! Banker being extradited to US

Former Credit Suisse banker Kareem Serageldin, the highest-ranking Wall Street executive to be charged for crimes tied to the mortgage meltdown, is coming home to face the music, The Post has learned.  The 39-tear old Yale graduate was indicted by a Manhattan federal grand jury in February 2012 — along with two Credit Suisse colleagues — for allegedly covering up losses in a $3.5 billion toxic mortgage portfolio as the real estate market was collapsing in 2007.

Serageldin could be brought to the Big Apple by the end of March to face wire fraud and conspiracy charges, this person said. He faces as much as 45 years in prison if convicted.   The cover-up scheme was carried out in a bid by the trio to boost their bonuses, prosecutors said. The alleged cover-up forced Credit Suisse, which has cooperated with the probe, to announce an unexpected $2.65 billion write-down in 2008….

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