EX-CREDIT SUISSE BANKERS ARRESTED OVER ‘$2 BILLION FRAUD SCHEME’ IN MOZAMBIQUE

On 4th January, the BBC reported that 3 former Credit Suisse bankers have been arrested over their alleged role in a $2 billion fraud scheme connected to businesses in Mozambique.  The men have been released on bail in London while the US seeks their extradition.  The scheme allegedly involved loans to state-owned companies in Mozambique 2013-2016 using maritime projects as fronts, and 2 others, including the country’s former finance minister, have also been arrested.

https://www.bbc.co.uk/news/business-46755159

FORMER MOZAMBIQUE FINANCE MINISTER ARRESTED IN RELATION TO $2 BILLION SECRET LOANS

Re reports that former Mozambique Finance Minister Manuel Chang had been arrested in South Africa in relation to $2 billion secret debt deals.

http://www.ekklesia.co.uk/node/27476

A Lebanese executive for a regional shipbuilding company has been arrested in New York over a $2 billion fraud linked to state-funded maritime projects in Mozambique, US prosecutors said.

https://www.thenational.ae/world/the-americas/lebanese-salesman-arrested-over-2-billion-fraud-1.809417

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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