To: IngotWeTrust who wrote (81113 ) 3/22/2002 9:45:20 AM From: long-gone Respond to of 116762 BUENOS AIRES, Argentina, March 21 (Reuters) - An Argentine judge has called former U.S. Treasury Undersecretary David Mulford to testify in an investigation into whether the Argentine government paid excessive commissions to banks in a massive debt swap last year. Mulford, currently the international chairman of Wall Street investment bank Credit Suisse First Boston (CSFB), a unit of Switzerland's Credit Suisse Group Inc. , is due to testify on April 24, court sources said on Thursday. No formal charges have been made against Mulford. ``We're surprised by this development, but we'll continue to cooperate with the local authorities,'' said Cristina Von Bargen, a CSFB spokesman in New York, adding Mulford would likely testify in the probe. Federal judge Jorge Ballestero is investigating whether Argentina paid excessive fees to investment banks that coordinated the June 2001 swap of about $30 billion in debt for new, longer-maturity issues. Then-Economy Minister Domingo Cavallo, himself due to testify in the probe on April 25, said publicly that Mulford had been one of the main engineers behind the swap, which was intended to prevent a debt default amid a grinding recession. ``(Mulford) appeared publicly in different media as one of the intellectual authors of the swap,'' Ballestero said in a statement. The swap was widely hailed at the time as a success but failed to keep Argentina from eventually defaulting on part of its $141 billion debt pile in January. Cavallo and former President Fernando de la Rua resigned amid violent street protests on Dec. 20. The resulting economic chaos has sparked multiple lawsuits across Argentina, most notably thousands of depositors who have filed in court to gain access to their frozen bank deposits. Some critics describe the wave of legal action as a ``witch hunt'' looking to pin blame for the current crisis. Former Argentine Finance Secretary Daniel Marx also is due to testify in the probe. biz.yahoo.com