Court probe dates back to 2001 debt exchange | State news agency says Mulford failed to testify | Mulford was U.S. Treasury undersecretary, ambassador
from Huffington Post:
A judge in Argentina has ordered the arrest of Credit Suisse executive and former U.S. Treasury Undersecretary David Mulford because he failed to testify over a 2001 Argentine debt swap, the state news agency reported on Monday.
Federal Judge Marcelo Martinez de Giorgi will ask Interpol to issue an international arrest warrant seeking Mulford’s extradition for questioning over the bond exchange carried out by the government in an unsuccessful bid to avoid default.
Mulford, who currently serves as vice chairman international of Credit Suisse Investment Bank, was seen as one of the debt swap’s architects when he served as a senior official at Credit Suisse First Boston (CSFB). The Swiss bank declined to comment.
Argentina’s government swapped about $30 billion in debt for new, longer-maturity issues in June 2001. But it stopped paying most of its debts six months later as the economy collapsed.