EX-CREDIT SUISSE BANKER ADMITS KICKBACKS IN MOZAMBIQUE SCAM

On 20th July, Swissinfo reported that Andrew Pearse, 49, a former Credit Suisse Group AG banker admitted taking millions of dollars in kickbacks as part of a scam that involved as much as $2 billion in loans to Mozambique state-owned companies, the second former Credit Suisse banker to plead guilty in the fraud and money-laundering scam.  He pleaded guilty to wire fraud in federal court in New York.  Pearse, who could face up to 20 years in prison, agreed to forfeit $2.5 million as well as other unspecified properties. He was freed on a $2.5 million bond and allowed to return to the UK.  The case involves the Privinvest Group, an Abu Dhabi-based holding company whose units include a shipbuilder. Privinvest was hired to provide equipment and services to complete the maritime projects in Mozambique.

https://www.swissinfo.ch/eng/ex-credit-suisse-banker-admits-kickbacks-in-mozambique-scam/45110250

 

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s