Credit Suisse To Pay $475Mln To US To Settle Charges For Mozambique Bond Offerings - SEC

Fahad Shabbir (@FahadShabbir) Published October 20, 2021 | 12:20 AM

Credit Suisse to Pay $475Mln to US to Settle Charges for Mozambique Bond Offerings - SEC

WASHINGTON (UrduPoint News / Sputnik - 20th October, 2021) The global investment banking company Credit Suisse will pay $475 million to the US and UK governments to settle charges connected to a scheme involving Mozambican bond offerings, the Securities and Exchange Commission (SEC) said on Tuesday.

"Credit Suisse Group AG has agreed to pay nearly $475 million to US and UK authorities, including nearly $100 million to the Securities and Exchange Commission, for fraudulently misleading investors and violating the Foreign Corrupt Practices Act (FCPA) in a scheme involving two bond offerings and a syndicated loan that raised funds on behalf of state-owned entities in Mozambique," the SEC said in a press release.

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