Search Results for: credit suisse

Mozambican President Filipe Nyusi cannot be sued in English courts over allegations that he accepted unlawful bribery payments as part of Mozambique’s “tuna bond” scandal, according to a Thursday decision from the English Court of Appeal. The money laundering scheme nearly crashed Mozambique’s economy and embezzled individuals worldwide. The Court of Appeal ruled that Nyusi [...]

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South African authorities extradited Mozambique’s former Finance Minister Manuel Chang to the US on Wednesday to face corruption charges. Chang faces faces US criminal charges for his role in a $2 billion fraud and money laundering scheme that nearly crashed Mozambique’s economy and victimized individuals in the US. Chang together with 19 others—inclusive of state security [...]

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Law students from the European Union are reporting for JURIST on law-related events in and affecting the European Union and its member states. Ciara Dinneny is JURIST’s Chief European Correspondent and a trainee with the Law Society of Ireland. She files this dispatch from Dublin.    Rival Swiss bank UBS bought Credit Suisse bank late [...]

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The Australian Cyber Security Centre (ACSC) Friday reported they received 76,000 cybercrime reports between July 2021 and June 2022, an increase of 13 percent since last year. In the third Annual Cyber Threat Report, the organisation broke down Australian cybercrime from the most recent financial year, reporting “an increase in the number and sophistication of [...]

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France’s national financial crime agency Parquet National Financier (PNF) Monday reached a settlement with Credit Suisse to resolve an ongoing probe into accusations of money laundering. PNF began the investigation in 2016 when it suspected Credit Suisse of helping account holders avoid taxes and allowing clients to harbor undeclared, untaxed foreign bank accounts. The Swiss [...]

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Switzerland’s Federal Criminal Court Monday fined Credit Suisse two million Swiss francs for failing to stop an employee who allowed a criminal organization to launder money through the bank. It also confiscated 12 million francs from Credit Suisse accounts linked to money laundering. The court says that between July 2007 and December 2008 a customer relations [...]

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A large-scale leak involving one of the world’s largest banks, the Swiss-based Credit Suisse, materialized on Sunday exposing the hidden wealth of clients involved in serious criminal activity, including but not limited to torture, drug trafficking, money laundering, and corruption. The leak was originally released by German newspaper Süddeutsche Zeitung and then passed on to [...]

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The European Court of Human Rights (ECHR) will review a conviction of several climate activists for protesting on Swiss bank Credit Suisse’s grounds. While the activists were initially acquitted in January 2020, the Swiss appeal court reversed that decision. The case was seen as an important precedent for climate protestors. The climate protestors were university [...]

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Judge Lorna Schofield of the US District Court for the Southern District of New York on Tuesday rejected Credit Suisse Group AG’s attempt to dismiss a lawsuit accusing the bank of defrauding shareholders. The lawsuit, brought by pension and retirement plans, accuses Credit Suisse of “defrauding shareholders about its risk appetite and risk management before [...]

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A South African judge ruled Wednesday that the detention of Mozambique’s former finance minister Manuel Chang on charges of USD $2 billion in loan fraud was legal under the extradition treaty between the US and South Africa. Manuel Chang, who was Mozambique’s finance minister between 2005 and 2015, was indicted by the Department of Justice [...]

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