The debt-saddled African nation reportedly wants to put three former Credit Suisse investment bankers on trial for their involvement in a bond and corruption scandal.
Mozambique is seeking the extradition of Andrew Pearse, Detelina Subeva, and Surjan Singh, three ex-Credit Suisse investment bankers, according to «Reuters». The three sold bonds that figured in a $2 billion debt scandal in the East African nation.
At least $200 million of the $2 billion total was diverted – to the Credit Suisse bankers, and allegedly to politicians and middlemen in Mozambique as well as executives at Privinvest, a shipping firm. After Mozambique defaulted in 2018, the matter morphed into a major crisis because the Swiss loans were not revealed to other creditors and the International Monetary Fund.
The trio pleaded guilty to charges in the U.S. last year to charges of bribery and money-laundering. Mozambique outlet «Noticias» reported that officials in Maputo want Pearse, Subeva, and Singh to face criminal charges in the country.
