Credit Suisse Rejects Blame In Mozambican Fraud Row

By Joanne Faulkner (January 6, 2022, 4:41 PM GMT) -- Credit Suisse has said it cannot be held liable for the actions of individual bankers who accepted kickbacks in a Mozambican lender's High Court effort to recoup millions in unpaid loans for maritime projects.

Credit Suisse International, Credit Suisse AG and Credit Suisse Securities (Europe) Ltd. say they do not owe Banco Internacional de Moçambique, or BIM, any damages or restitution in an updated Dec. 15 defense filing.

Several Credit Suisse bankers have admitted to enriching themselves and government officials in a major fraud case brought by U.S. authorities over loans lent for maritime projects in Mozambique.

However, the Credit Suisse subsidiaries...

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