Credit Suisse Mozambique Loans in Focus as Swiss Begin Probe

Switzerland has opened a probe related to $2 billion of loans to Mozambique that were organized by banks including Credit Suisse Group AG and VTB Bank PJSC, in a scandal that has already attracted the attention of prosecutors in the U.S, Bloomberg News reported. The criminal probe started in February against “persons unknown” on suspicion of money laundering in connection with the credit, the Office of the Attorney General said on Friday. The target of the proceedings is not any specific person or entity, the office said. The investigation follows requests for legal assistance from Mozambique, as well as reports of suspicious activity from the Swiss Money Laundering Reporting Office, according to the statement. Read more