3rd Ex-Credit Suisse Banker Cops To $2B Mozambique Fraud
Law360 (September 11, 2019, 6:00 PM EDT) -- It was revealed Wednesday that a third former banker for Credit Suisse has admitted to his role in an alleged bribery and kickback scheme involving $2 billion in loans backed by the government of Mozambique.
Surjan Singh, once a managing director for Credit Suisse's Global Financing Group, pled guilty in New York federal court last week to a money laundering conspiracy charge, admitting to a scheme with Mozambican government officials, corporate executives and others to obtain $2 billion in state-backed loans ostensibly to fund maritime projects, while diverting $200 million of the proceeds for bribes and kickbacks.
The guilty plea was...
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