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offsite link North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

offsite link Trump Assembles a War Cabinet Sat Nov 16, 2024 10:29 | Marko Marjanovi?

offsite link Slavgrinder Ramps Up Into Overdrive Tue Nov 12, 2024 10:29 | Marko Marjanovi?

offsite link ?Existential? Culling to Continue on Com... Mon Nov 11, 2024 10:28 | Marko Marjanovi?

offsite link US to Deploy Military Contractors to Ukr... Sun Nov 10, 2024 02:37 | Field Empty

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Human Rights in Ireland
Promoting Human Rights in Ireland

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Lockdown Skeptics

The Daily Sceptic

offsite link Quaker Political Interference Has Got Out of Control Sat Apr 12, 2025 07:00 | Charlotte Gill
There was uproar when police raided a Youth Demand meeting in a Quaker meeting house. But there's nothing innocuous about the Quakers, says Charlotte Gill: they're behind some of the most well-funded activism in Britain.
The post Quaker Political Interference Has Got Out of Control appeared first on The Daily Sceptic.

offsite link Mother Arrested for Theft and Held in Cell for Seven Hours for Confiscating Own Children?s iPads Fri Apr 11, 2025 17:00 | Will Jones
A mother of two was arrested for theft and held in a police custody cell for more than seven hours after she confiscated two iPads belonging to her own children.
The post Mother Arrested for Theft and Held in Cell for Seven Hours for Confiscating Own Children’s iPads appeared first on The Daily Sceptic.

offsite link West Yorkshire Police?s Anti-White Hiring Policy Says the Quiet Bit Out Loud Fri Apr 11, 2025 15:00 | Paul Birch
West Yorkshire Police's anti-white hiring policy says the quiet bit out loud. Former cop Paul Birch says those in the police have known this has been going on for years ? and the public doesn't know the half of it.
The post West Yorkshire Police’s Anti-White Hiring Policy Says the Quiet Bit Out Loud appeared first on The Daily Sceptic.

offsite link Lucy Connolly is Again Refused Leave to See Daughter and Sick Husband Fri Apr 11, 2025 13:00 | Will Jones
Lucy Connolly, who was jailed for 31 months over a tweet during last summer's riots, has again been refused leave to spend time with her daughter and sick husband in a move said to "confirm" she is a political prisoner.
The post Lucy Connolly is Again Refused Leave to See Daughter and Sick Husband appeared first on The Daily Sceptic.

offsite link Reform Needs to Get its Act Together if it?s to Become a Serious Party Fri Apr 11, 2025 11:00 | Tom Jones
Reform could learn some valuable lessons from the Danish People's Party, says Tom Jones. By focusing on immigration, it forced the Left to clamp down on asylum seekers. Reform, by contrast, seems chaotic and unfocused.
The post Reform Needs to Get its Act Together if it?s to Become a Serious Party appeared first on The Daily Sceptic.

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Voltaire Network
Voltaire, international edition

offsite link Will intergovernmental institutions withstand the end of the "American Empire"?,... Sat Apr 05, 2025 07:15 | en

offsite link Voltaire, International Newsletter N?127 Sat Apr 05, 2025 06:38 | en

offsite link Disintegration of Western democracy begins in France Sat Apr 05, 2025 06:00 | en

offsite link Voltaire, International Newsletter N?126 Fri Mar 28, 2025 11:39 | en

offsite link The International Conference on Combating Anti-Semitism by Amichai Chikli and Na... Fri Mar 28, 2025 11:31 | en

Voltaire Network >>

Credit Suisse Banker Pleads Guilty in Mozambique Loan Scandal

category international | economics and finance | news report author Monday July 22, 2019 23:08author by Kate Zeller - Jubilee USA Network Report this post to the editors

On Friday, former Credit Suisse banker Andrew Pearse pled guilty in US Federal Court for accepting millions of dollars in a fraud scheme that led to a $2 billion Mozambique loan scandal and debt crisis in the East African country.

Washington DC - On Friday, former Credit Suisse banker Andrew Pearse pled guilty in US Federal Court for accepting millions of dollars in a fraud scheme that led to a $2 billion Mozambique loan scandal and debt crisis in the East African country. Pearse and six others are accused of taking $200 million in the scheme.

“Mozambique, one of the poorest countries in the world, is dealing with a financial crisis because of the greed of corrupt bankers," said United Nations corruption and finance expert Eric LeCompte and Executive Director of the religious development group Jubilee USA Network. “This behavior is only possible because of a lack of global loan transparency and a lack of public budget transparency in Mozambique.”

US prosecutors argue that Credit Suisse and Russian-based VTB finance group hid secret loans to the Mozambique government by bribing bank and government officials. The loans were supposed to support the tuna fishing industry, but instead supported the outfitting of boats for military attack crafts. When the secret loans to Mozambique were revealed in 2016, the IMF and World Bank cut ties with the country, halting development funding. This year, Mozambique was hit with two cyclones further impacting the debt ridden and poverty stricken country.

"Mozambique is struggling to recover from a debt crisis and terrible natural disasters," noted LeCompte.

Related Link: http://www.jubileeusa.org

 #   Title   Author   Date 
   Financial colonialism already well documented     T    Mon Jul 22, 2019 23:16 


 
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