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HomeBreadcrumbCalendarsBreadcrumbInternational AffairsBreadcrumbExtraditions

Theresa May to decide on Serageldin's extradition to US

days between Mid February and Mid March
United Kingdom

Published: 14 Jan 2013 | By Yafit Lazar and 1 other | Last updated: 14 Jan 2013
   
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Breaking Future News
Theresa May to decide on Serageldin's extradition to US -
Theresa May
flickr-ukhomeoffice

After a British court approved on January 14 the extradition of former Credit Suisse trader Kareem Serageldin to the US, Home Secretary Theresa May is set to make the final decision whether to approve the move.


The lawyer of Serageldin, who is wanted by the US for a fraud of over $540 million dating back to the subprime mortgage crisis, did not contest the extradition, despite his previous statements about a possible plea agreement with US authorities.


Under British law, May has the final say over extraditions to the US. She is expected to give the green light for the transfer to take place. Until the decision is made, Serageldin will remain on bail.


Serageldin, who was the Swiss bank's former global head of structured credit, is accused of artificially inflating the prices of mortgage-backed bonds between August 2007 and February 2008, when their real value was plummeting.


The case was the first successful US prosecution of employees of a major bank over wrongdoing connected to the subprime meltdown.


Source
UK court approves ex-Credit Suisse trader's extradition to.. uk.reuters.com
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About this event
Created by Yafit LazarCreated by Yafit Lazar
on Mon 14 Jan 2013
Modified by Georgeta GheorgheLast modified by Georgeta Gheorghe
on Mon 14 Jan 2013
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Location: United Kingdom
Earliest date: Friday 15 February 2013
Latest date: Friday 15 March 2013
Planning: date is to be announced
Ended: 71 days ago

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