Former Credit Suisse bankers charged in $2 billion loan fraud
London (CNN Business)Three former Credit Suisse bankers have been charged by the United States over their role in a fraudulent loan scheme that prosecutors allege included at least $200 million in bribes and kickbacks.
Andrew Pearse, Surjan Singh and Detelina Subeva have been indicted by prosecutors in New York for helping to arrange over $2 billion in loans that were guaranteed by the government of Mozambique, according to court documents unsealed on Thursday.
The loans were supposed to be used on maritime projects in Mozambique. But prosecutors allege that at least $200 million of the proceeds were used as bribes and kickbacks to the bankers, government officials and others.
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