News

Three former Credit Suisse bankers hid signs of their clients' potential involvement in financial crime from compliance officers before receiving millions of dollars in kickbacks from a $2 billion corruption and fraud scheme in Mozambique, federal prosecutors in New York said. Details of the scheme and compliance lapses emerged Thursday, when prosecutors unsealed bribery and money-laundering charges against the bankers and others for allegedly conspiring to obtain commercial loans backed by Mozambique's government in what amounted to a pretext for stealing funds from the country's treasury. The bankers, Andrew Pearse, 49, Surjan Singh, 44, and Detelina Subeva, 37, secretly hired...