NPR Story
12:04 am
Wed June 25, 2014

Ex-Credit Suisse Banker Pleads Guilty To Conspiracy

Originally published on Wed June 25, 2014 7:48 am

Transcript

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. Transcript provided by NPR, Copyright NPR.

Related Program