Credit Suisse

Credit Suisse Among Banks Probed on Mozambique, WSJ Reports

Posted on by The Editorial Team
Credit Suisse Among Banks Probed on Mozambique, WSJ Reports

MAPUTO (Capital Markets in Africa) – U.S. authorities are investigating Credit Suisse Group AG, BNP Paribas SA and VTB Group for their roles in selling about $2 billion of bonds for Mozambique, the Wall Street Journal reported, citing unidentified people familiar with the matter. The Federal Bureau of Investigation is examining whether the banks facilitated corruption by enabling officials from the African nation to take money raised in the debt sales, the newspaper reported. The Justice Department…

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Credit Suisse Disputes Fees Shown in Kroll Mozambique Audit

Posted on by The Editorial Team
Credit Suisse Disputes Fees Shown in Kroll Mozambique Audit

MAPUTO (Capital Markets in Africa) – Credit Suisse Group AG, which helped arrange the majority of the $2 billion in Mozambique state-backed loans that plunged the country’s economy into crisis, disputed that it received more than $160 million in fees for arranging the financing. The bank was responding to Kroll LLC’s audit report into the loans that said it and Russia’s VTB Bank PJSC were paid almost $200 million in arrangement and contractor fees. The investigation showed that Mozambican…

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