Three former Credit Suisse bankers have been arrested in London on US charges that they conspired in a $2bn (£1.6bn) loan scheme that allegedly saw hundreds of millions stolen from Mozambique, one of the world’s poorest countries. Andrew Pearse, Surjan Singh and Detelina Subeva face extradition to the US for their alleged role in the fraudulent scheme, which was ostensibly intended to provide financing for Mozambique’s fishing industry and coastal defences. But, according to prosecutors in Brooklyn, New York, about $200m of the funds were diverted to enrich defendants and pay bribes and kickbacks to Mozambican government officials. The three have been charged with conspiring to violate US anti-bribery law and to commit money laundering and securities fraud.
— source independent.co.uk | Jan 4, 2019