Kareem Serageldin

Kareem Serageldin (born in 1973) is a former executive at Credit Suisse. He is notable for being the only banker in the United States to be sentenced to jail time as a result of the 2008 financial crisis, a conviction resulting from mismarking bond prices to hide losses.

Early life and education Serageldin was born in Cairo, Egypt to parents of modest means. He spent some of his childhood in the Upper Peninsula of Michigan in the United States.

Career Upon graduating in 1994, he joined the information technology department of Credit Suisse. By 2007, he was supervising 70 employees and more than $50 billion in trading positions. as well as the U.S. Securities and Exchange Commission.

On April 12, 2013, Serageldin pleaded guilty to fraudulently inflating the prices of asset-backed bonds which comprised subprime residential mortgage backed securities and commercial mortgage backed securities in Credit Suisse's trading book in late 2007 and early 2008.

On November 22, 2013, Judge Alvin Hellerstein sentenced Serageldin to 30 months in prison.

Serageldin said he committed the crime "To preserve my reputation in the bank at a time when there was great financial turmoil".