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Ex-Credit Suisse staff probed
Authorities are preparing to charge former Credit Suisse Group employees with criminal and civil fraud related to write-downs on subprime mortgage derivatives in 2008, according to sources familiar with the matter. Credit Suisse will not be charged in the matter being investigated by federal prosecutors and the SEC, the sources said. The investigation stems from major write-downs on collateralised debt obligations Credit Suisse took at the height of the financial crisis, which led to the firing of a number of traders.