U.S. Plans Charges on Bond Fraud

[deminks]

http://online.wsj.com/article/SB10001424052970204740904577195472977887722.html

Federal prosecutors are preparing to file criminal charges against former Wall Street traders alleging they misstated the value of mortgage bonds, an issue central to the 2008 financial crisis, according to people familiar with the matter.

The Manhattan U.S. Attorney's office is planning to allege in a criminal complaint that several former traders at Credit Suisse Group AG, a major global investment bank, misled the bank's investors by booking inflated prices of mortgage bonds to boost their bonuses, despite knowing the values of those securities had dropped, according to the people familiar with the matter.

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Subscription - I don't have one.

Edited to add Reuters link:

http://www.reuters.com/article/2012/02/01/us-creditsuisse-charges-idUSTRE80U2HT20120201

[Sherman A1]

1. It's a start.

Hopefully more in the future.