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Ex-Credit Suisse Banker Pleads Guilty To Conspiracy

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Ex-Credit Suisse Banker Pleads Guilty To Conspiracy

Business

Ex-Credit Suisse Banker Pleads Guilty To Conspiracy

Ex-Credit Suisse Banker Pleads Guilty To Conspiracy

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  • <iframe src="https://www.npr.org/player/embed/325396782/325396791" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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David Higgs has been handed $950,000 in fines and penalties by a New York court for his part in hiding sub-prime mortgage bond losses back in 2012.

RENEE MONTAGNE, HOST:

NPR's Business News starts with more banking fines. The former Credit Suisse banker David Higgs has been handed $950,000 in fines and penalties by New York court. Higgs pled guilty to conspiracy for his part in hiding subprime mortgage bond losses, back in 2012, worth $100 million. Last year, his former boss was sentenced to two and a half years in prison in the same case. This is one of the few criminal prosecutions to come out of the 2008 financial crisis.

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