The New York Post reports that the 39-tear old Yale graduate was indicted by a Manhattan federal grand jury in February 2012 - along with two Credit Suisse colleagues - for allegedly covering up losses in a $3.5bn toxic mortgage portfolio as the real estate market was collapsing in 2007.
The UK’s Home Secretary Theresa May, who is responsible for Great Britain’s immigration and citizenship, signed off last week on the extradition of Serageldin, a person with knowledge of the case told the newspaper.
The banker was living in London at the time of the indictment.
Serageldin could be brought to the Big Apple by the end of March to face wire fraud and conspiracy charges, this person said. He faces as much as 45 years in prison if convicted.
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