Three former Credit Suisse bankers were yesterday arrested in London on the grounds that they were involved in a $2bn fraud scheme involving state-owned companies in Mozambique.
Andrew Pearse, Surjan Singh and Deteline Subeva were charged in an indictment filed by a US District Court in New York court with conspiring to violate American anti-bribery laws and to commit money laundering and securities fraud.
The indictment stated that through a series of financial transactions between approximately 2013 and 2016, over $2bn was borrowed through loans guaranteed by the Mozambican government. It further claimed that over the course of the transactions, the co-conspirators acted to defraud investors.
The arrests came five days after the former Mozambique finance minister Manuel Chang was arrested in South Africa as part of the same criminal case.
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