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Former Credit Suisse trader pleads guilty in bond probe

David Higgs, a UK citizen who is cooperating with prosecutors, faces up to five years in prison

A former Credit Suisse Group employee pleaded guilty today to criminal charges over alleged misstatements regarding the bank's mortgage bond valuations during the financial crisis.

David Higgs, a UK citizen, pleaded guilty to conspiracy to falsify books and records and to commit wire fraud at a hearing before US District Judge Alison Nathan in Manhattan federal court on today.

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