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Ex-Credit Suisse bankers and ex-Mozambique finance minister arrested on US charges involving $2 billion in fraudulent loans

Ex-Credit Suisse bankers and ex-Mozambique finance minister arrested on US charges involving $2 billion in fraudulent loans

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Three former Credit Suisse Group AG bankers were arrested in London on Thursday on U.S. charges of involvement in a fraud involving $2 billion in loans to state-owned companies in Mozambique, U.S. prosecutors and British police said. Andrew Pearse, 49, Surjan Singh, 44, and Detelina Subeva, 37, were charged in a federal court in Brooklyn, New York, with conspiring to violate U.S. anti-bribery law and to commit money laundering and securities fraud. They have been released on bail in London while the United States seeks extradition. Former Mozambique finance minister Manuel Chang, 63, was arrested in South Africa this week as part of the same case. A fifth man, Jean Boustani, was arrested on Wednesday at New York’s John F. Kennedy Airport and refused bail. Boustani is a Lebanese citizen who worked as lead salesman for Privinvest – an Abu Dhabi-based holding company whose subsidiaries include a ship building firm hired to provide equipment and services to the Mozambican companies,…
Source: Ex-Credit Suisse bankers and ex-Mozambique finance minister arrested on US charges involving $2 billion in fraudulent loans

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