Ex-Credit Suisse exec's extradition approved He has been charged with conspiracy, falsifying books and records, and wire fraud in the US. The charges carry a potential penalty of 45 years in prison. Serageldin was released on bail pending the approval of his extradition, the court confirmed. His lawyers Corker Binning declined to comment after the hearing. The alleged fraud, which prosecutors described last year as "a tale of greed run amok," was blamed for a portion of a $2.65bn write-down Credit Suisse announced in March 2008. Two other Credit Suisse traders pleaded guilty to conspiracy charges in cooperation deals with prosecutors in February 2012. At the time, prosecutors urged Serageldin to return to the US and answer the charges against him. The subprime mortgage crisis fuelled the financial meltdown in 2008. US federal regulators have brought civil charges against several big Wall Street firms accused of misleading investors about securities linked to risky mortgages in the years leading up to the financial crisis. The biggest settlement of the Securities and Exchange Commission's charges was with Goldman Sachs in July 2010. The firm agreed to pay 550 million dollars (£342m).