A former trader at the international financial services company Credit Suisse Group AG who was accused of falsely overstating the prices of mortgage bonds, is being spared from jail time after agreeing to cooperate with the government, Bloomberg News reports.
Salamaan Siddiqui pleaded guilty to a count of conspiracy in 2012 for fabricating books and records and for committing wire fraud. He could have been subject to up to two years of jail time, but instead was fined $150,000, said Reuters.
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