Credit Suisse Settles $1.5 Billion Mozambique Fraud Case

Credit Suisse reached a last-minute settlement with Mozambique in a $1.5 billion fraud and bribery case, ending a 13-week London trial.
Mozambique was seeking $1.5 billion in damages from Credit Suisse, alleging bribery and fraud over state loans in 2013-2014.
The loans were supposedly for state projects like a tuna fishery but funds were misused, triggering a debt crisis when revealed in 2016.
Mozambique accused Credit Suisse of bribery and fraud but bank said it was unaware of employee misconduct.
An appeals court allowed shipbuilder Privinvest to appeal a decision granting Mozambique's President immunity.

dw.com

Relevant topic timeline:

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