Swiss Prosecutors Charge Former Credit Suisse Officer
The indictment revolves around a business relationship associated with more than $2 billion in loans that Credit Suisse extended in 2013 to three Mozambican state-owned enterprises—transactions that later prompted global investigations.
In 2016, the OAG indicated that Mozambique's Ministry of Economy and Finance transferred approximately $7.86 million to accounts at CS belonging to a foreign company suspected of participating in the scandal.
The funds, according to the OAG, are believed to have originated from a "running fee" acquired through corruption and wrongdoing in Mozambique.
Shortly after the money was deposited, $7 million was moved to accounts in the United Arab Emirates, the statement reported.
While internal reviews were underway, the accused compliance officer allegedly suggested ending the commercial relationship rather than filing a suspicious transaction report with Switzerland's Money Laundering Reporting Office (MROS).
After the relationship was terminated, an additional $609,000 and 28,000 Swiss francs (approximately $35,000) thought to be of illicit origin were sent abroad.
The OAG further charged the officer with carelessly permitting the laundering of these remaining funds.
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