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.
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.
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.