Mozambique Bank Waits To Strike In Credit Suisse Fraud Fight

Law360, London (May 18, 2020, 6:22 PM BST) -- A Mozambican lender is queuing on the sidelines of a London court battle between Credit Suisse and the country in connection with a $2 billion fraud and bribery scandal, saying it will sue whoever loses to reclaim millions in unpaid loans.

Banco Internacional de Mocambique SA sued Credit Suisse International and Credit Suisse AG in the High Court as part of its legal efforts to recoup more than $54 million lent for maritime projects in Mozambique in 2013 and 2014. The projects have come under fire as a front for bribery and kickbacks and have led to Credit Suisse bankers copping...

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