Three former Credit Suisse 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 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. Boustani is a Lebanese citizen who worked for an Abu Dhabi-based contractor to the Mozambican companies, according to the indictment.
Lawyers for the defendants could not be reached for comment.
“The indictment alleges that the former employees worked to defeat the bank’s internal controls, acted out of a motive of personal profit, and sought to hide these activities from the bank,” Credit Suisse said in a statement, adding that the bank would continue to cooperate with authorities.
Source : CNBC