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Ex-Credit Suisse CDO Chief Pleads Guilty


Kareem Serageldin, the ex-global head of Credit Suisse’s structured credit trading business, pleaded guilty to conspiracy, saying that when he discovered subordinates falsifying the value of mortgage-backed bonds in late 2007, he joined the scheme rather than stop it.

KPMG To Sue Former Partner Scott London


KPMG plans to take legal action against former partner Scott London, who has been accused of passing on inside information about clients to a golfing partner in exchange for cash, a Rolex watch, dinners and tickets to shows.




Global equity funds witness biggest-ever exodus

Investors yanked $29.5 billion out of global equity funds in the week that ended Aug 26, the biggest single-week outflow on record as markets around the world over went into meltdown mode, according to data from Citi.