Mozambique: Quelimane bridge 'breaks' shortly before its official opening - photos
Mozambique sees U.K. cases against Credit Suisse, Privinvest chief unaffected by U.S. verdict
3:40 CAT | 03 Dec 2019
File photo: Bloomberg
Mozambique will proceed with cases in which it’s suing Credit Suisse AG and the chief executive officer of shipbuilder Privinvest Group in London, even after a U.S. jury acquitted the company’s sales director, the government said.
Mozambique started civil proceedings against Credit Suisse and Iskandar Safa earlier this year, claiming there was corruption involved in $2 billion of loans that financed maritime projects for state-owned companies. Privinvest supplied the equipment and the bank helped finance their purchase. Both firms deny any wrongdoing.
A U.S. jury on Monday acquitted Privinvest salesman Jean Boustani of three charges in a case related to the same projects.
By Matthew Hill
Source: Bloomberg
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