Ex-UK Credit Suisse trader fined over bond price manipulation

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A New York court has fined a former UK-based Credit Suisse trader for his role in artificially inflating bond prices.

David Higgs was spared prison, which was the fate of his boss, the BBC reports. Higgs pleaded guilty in 2012 to a conspiracy charge, was ordered to forfeit $900,000 (£530,000) to the government and pay a $50,000 fine by a judge in New York. It is one of the few US criminal prosecutions stemming from the financial crisis. Another trader with the bank, Salmaan Siddiqui, also pleaded guilty in 2012 and is due to be sentenced this month. Higgs provided "extremely substantial assistance" after agreeing to co-operate with prosecutors. Higgs's former boss Kareem Serageldin entered h...

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