A former Credit Suisse executive charged with mortgage securities fraud may be extradited from the U.K. to face charges in the U.S.
The British newspaper The Independent reports that London's Westminster Magistrates Court has approved the extradition of Kareem Serageldin, a U.S. citizen arrested in London in September 2012. Serageldin's extradition requires the final approval of Home Secretary Theresa May before he can be turned over to U.S. authorities.
Serageldin, formerly Credit Suisse's managing director and global head of structured credit, is being charged with conspiracy, falsifying books and records, and wire fraud in the U.S. If convicted, he faces the potential for 45 years in prison.