Boustani In On Loan Scam, 2nd Ex-Credit Suisse Banker Says

Law360, New York (November 5, 2019, 8:08 PM EST) -- A former Credit Suisse Group investment banker on Tuesday took the witness stand in the trial of Privinvest Group executive Jean Boustani over a complex purported $2 billion fraud and kickback scheme involving Mozambican maritime projects, telling jurors he agreed to take bribes from Boustani in exchange for smoothing over loan deals.

Surjan Singh, 45, a former managing director in the Swiss bank's fixed income division, is the second former Credit Suisse banker-turned-cooperating witness to testify against Boustani, a 42-year-old Lebanese national who stands accused of defrauding investors in loans made by Credit Suisse and Russian bank VTB to Mozambican state-backed...

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