For the Credit Suisse is at the same time, a reputation, a debacle and a financial risk: the 2-billion-Dollar bond, the Moçambique 2012 in three tranches of one, although it came against agreements with the International monetary Fund.

In the case of two of these bonds, which has organized the CS together with the Russian state Bank VTB and had a volume of nearly $ 1.5 billion, was the CS leader. A third bond in the amount of 535 Million dollars, the Russian state Bank VTB is responsible for alone.

a tuna fishing has been Funded with the loans fleet, the coastal surveillance and port infrastructure. Alone, the funds have been misappropriated on a large scale. 200 million are sunk in a swamp of corruption, and Mozambique were cancelled in 2016, when the scandal was publicized, all the lines of credit. Moçambiques economy is since then in a deep recession.

bond converted

For some time the poverty-stricken South African tries American country again credit to be able. In front of one and a half months, it got to the creditors the assurance that a Eurobond-bond in the amount of $ 727 million, which would have been 2023 due and payable, will be converted into a loan of 900 million with a maturity date between 2028 and 2031. This was seen as a breakthrough.

it Now looks as if the Russian Bank can take some of the VTB with the African country to the restructuring of the third Tranche of the 2 billion loan. VTB chief Andrei Kostin travelled last week, specially in Moçambiques capital, Maputo, in order to agree with President Filipe Nyusi to find no later than the end of the year a solution. The Deal is to be seen in connection with the Russian ambitions in Africa.

the port of Maputo: the credits of a tuna fishing fleet, the coastal surveillance as well as infrastructure financing. Photo: Reuters

last week, a Russian in Sochi-African summit with 40 heads of state and government and 10’000 participants from 54 countries. Some thirty years after the collapse of the Soviet Union, Moscow wants to approach the continent politically, economically and militarily. VTB said on Thursday, because quite frankly, she was interested in bringing Russian investors to Mozambique. The country has a significant agricultural industry, as well as large Oil and gas reserves.

No agreement there is, however, for the Credit Suisse. She has also tried to resolve the conflict, but is not managed according to CS-spokesman Dominique Gerster. “During more than a year, the CS, to make a contribution to the solution of the current Situation in Mozambique. The Bank was a leader in a lender working group for the conduct of negotiations with Mozambique,” says Gerster. These negotiations, which had been led by the international legal and financial representatives from Mozambique, had been of Mozambique cancelled. This, as the state of the beginning of the year I decided to have a court to initiate proceedings against Credit Suisse in London.

In June, a court in Mozambique has also found that the loans were illegal and therefore the state is not liable. Moçambique requested by the CS that they are liable for the bonds and in the event of any rescheduling guarantees take. CS-speaker Gerster says: “The Bank shall be brought in the appropriate manner before the court, the allegations of Mozambique, take a position, but is always up for a constructive exchange with Mozambique is ready.”

love, Sex and corruption

another scene of the affair, New York. There was a trial against three former Credit Suisse employees, and five more business people will take place at the Moment. This is because the Moçambique bonds American investors were sold, and now feel cheated.

In New York, not the CS is accused of yourself. The Bank takes the position that it was in the affair to the criminal dealings of former employees of its London branch. With this argument, the CS was able to convince the American prosecutors. All of the defendants CS-employees, two men and a woman, are confessed. At the Moment, one of them, Andrew Pearse says.

Even if the CS is not directly involved, the image, the submit your Ex-employee, is advantageous for the Image.

What tells Pearse, sounds like a soap Opera. He has admitted to have 45 million Swiss francs in bribes for himself and his girlfriend at the time Detelina Subeva, also accused Ex-CS employee, and supposedly the love of his life, diverted. Pearse claimed that he and Subeva have kept their love for the CS secret. He was eliminated in the CS, and I founded my own company that arranged the loans. Subeva be fulfilled later. So you could have the Romance to continue.

Pearse-loaded heavy in addition, a former business partner and the Franco-Lebanese billionaire Iskandar Safa. Safa, who supplied the ships and port facilities, was the Main profiteer of the affair, because the Goods were overpriced.

Andrew Pearse is called the love of his life: Ex-CS-employee Detelina Subeva. Photo:

Pearse is claimed to have the son of the former President of Mozambique, $ 50 million bribe paid to ensure that this enabled the access to the President. It was only when the President’s son, once again, 12 million wanted to pay for a house in the South of France, he prostitutes his Beloved – an Ex, in which he had fallen in love -, it came to the noise.

The so-accused, deny everything and call Pearse a liar who wanted to come, thanks to a deal with the Prosecutor’s office as well. The process in New York, across the world, it is reported, is likely to take several weeks. Even if the CS is not directly involved, the image of your Ex-employees is not just advantageous for the Image.

Created: 27.10.2019, 21:33 Uhr