Saturday , September 21 2019
Home / africa / Mozambique sues Credit Suisse in debt scandal – Citizen

Mozambique sues Credit Suisse in debt scandal – Citizen



The Swiss lender sues together with shipbuilder Privinvest and three people for potential breaches of commercial contracts, according to documents submitted to the London High Court on Wednesday.

It is reported that the Mozambican government has borrowed $ 2 billion in buys for tuna fishing and surveillance vessels, but has hidden the transaction from parliament and international donors.

Independent audit found that a quarter of the loan amount was redirected and unidentified.

He also read the guarantee of former Finance Minister Mozambique Manuela Chang

The United States claims that at least $ 200 million was spent on bribes and commissions, including $ 12 million to former Finance Minister Manuela Chang, who allegedly signed a debt warrant.

Chang was arrested last year at the US request for extradition.

The US Department of Justice has accused three former Credit Suisse employees of helping to create $ 2 billion in maritime projects.

They were arrested in London in early January and their extradition to the United States is about to be heard soon.

For more information, download Citizen for iOS and Android.


Source link