EX-CREDIT SUISSE BANKERS ARRESTED ON US CHARGES OVER $2BN FRAUD SCHEME | WHAT REALLY HAPPENED


EX-CREDIT SUISSE BANKERS ARRESTED ON US CHARGES OVER $2BN FRAUD SCHEME

Three former bankers of the second-largest bank in Switzerland, Credit Suisse Group AG, were arrested in London over an alleged connection to a $2bn Mozambique fraud scheme, according to US justice authorities cited by media.
The three suspects – former managing directors Andrew Pears and Surjan Singh, as well as the vice president in the global financing unit, Detelina Subeva – were charged with conspiring to violate US anti-bribery law, money laundering, and securities fraud in an indictment issued in a federal court in Brooklyn, New York, Reuters reported.

The three men were released on bail after their arrest in the British capital on Thursday but may face extradition to the US.

The bank itself was spared of the charges and says it was kept in the dark by its own staff.

“The indictment alleges that the former employees worked to defeat the bank’s internal controls, acted out of a motive of personal profit, and sought to hide these activities from the bank,” Credit Suisse said in a statement

Webmaster's Commentary: 

I seriously doubt that there will be any jail time for these people, as the rich rarely eat their own.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA