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| Credit Suisse said Mr Serageldin was dismissed in 2008 along with his two colleagues |
A former
senior trader from Credit Suisse, Kareem Serageldin, has been arrested in
London and faces extradition to the US on fraud charges.
Two of his
former subordinates pleaded guilty in February to charges of wire fraud and
falsifying books and records.
They
admitted to having manipulated prices of mortgage-backed securities to cover up
losses at Mr Serageldin's direction.
Mr
Serageldin, a US citizen, will appear before magistrates on Thursday.
Credit
Suisse said Mr Serageldin and his two colleagues were dismissed in 2008.
In addition
to the criminal charges, Mr Serageldin and his colleagues, David Higgs and
Salmaan Siddiqui, were the subject of civil charges from the Securities and
Exchange Commission (SEC).
A fourth
man, Faisal Siddiqui, was also charged by the SEC, but did not receive criminal
charges.
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