LONDON (AP) — A former Credit Suisse executive facing extradition to the U.S. on fraud charges for his handling of mortgage-based securities during the financial crisis was freed on bail after an appearance Thursday before a British court.

U.S. Federal prosecutors have alleged that Kareem Serageldin conspired with two of his employees to hide the deteriorating condition of the U.S. housing market in 2007 in order to keep the value of bonds based on subprime mortgages artificially high, thereby fattening their bonuses.