Credit Suisse Denies Conspiracy In $2B Mozambican Scandal

Law360, London (March 3, 2021, 6:39 PM GMT) -- Credit Suisse has denied knowing about a $2 billion fraud and bribery scam tied to loans the bank made to Mozambique, rejecting hedge funds' claims that it's liable for the actions of three former employees.

In its newly public Feb. 24 defense in the High Court, Credit Suisse denied allegations from hedge funds Beauregarde Holdings LLP and Orobica Holdings LLC that they were were victims of a conspiracy. The lender said it cannot be held "vicariously liable" or responsible for rogue behavior of which it was unaware. 

The suit is part of a long-running legal saga stemming from a deal in...

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