A criminal complaint was reportedly filed against Credit Suisse over a number of loans linked to Mozambique.
As reported, during several years, Mozambique officials used the countries credit lines to receive loans from financial institutions, driving the country to its current place as the world’s most indebted country.
The investigations over such loans prompted the arrests of bank’s officials in the USA and the UK for their violations of bribery and anti-corruption rules and regulations.
Following the complaint, the Suisse supervisory authorities must decide whether or not criminal proceeds will follow.
As noted by Reuters: “The maritime transactions, or so called tuna bonds, refer to a fleet of sea vessels bought by Mozambique using loans arranged by international banks for a self sustaining fishing program that never materialized. The cash came in the form of a government-backed bond to state tuna-fishing company Ematum.”
