Britain's financial watchdog has
dropped a criminal probe into Credit Suisse related to
an alleged fraud in Mozambique, but is still checking the bank
and individuals for any breaches of conduct rules, the watchdog
said on Tuesday.
Mozambique has indicted 18 citizens for their involvement in fraud involving $2 billion in loans to state-owned companies, the attorney general's office (AGO) said on Monday, in a scandal that has ensnared two major international banks.
Three former Credit Suisse Group AG bankers were arrested in London on Thursday on U.S. charges that they took part in a $2 billion fraud scheme involving state-owned companies in Mozambique, a U.S. official said.
U.S. charges against former Mozambican finance minister Manuel Chang relate to loans at the center of the country's secret-debt scandal and he will oppose any request for his extradition, Chang's lawyer said on Thursday.
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