Ex-Credit Suisse Banker Hid $45 Million, Names Four Others - Bloomberg:
A former Credit Suisse Group AG banker told a federal jury in New York that he alone pocketed at least $45 million in a massive kickback scheme and named other ex-employees of the bank he says made millions of their own.
Testifying on Wednesday, Andrew Pearse recited the illicit payments he took for his role in arranging $2 billion in loans to companies in Mozambique. Pearse, who pleaded guilty to conspiracy, told the court that at least four former Credit Suisse bankers besides himself took millions of dollars in bribes from ship builder Privinvest Group, including two he hadn’t named before.
“They all played a role in ensuring the bank made the loans,” Pearse, 49, said in court in Brooklyn. “They provided the bank with false information about Privinvest.”
Pearse is a key witness against Jean Boustani, a Privinvest salesman described by prosecutors as the “mastermind” of a plot to defraud U.S. investors. The U.S. alleges that Mozambican government officials, corporate executives and investment bankers stole about $200 million.
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