US nails Credit Suisse bankers for corruption in Africa – The Wall Street Journal

EDINBURGH — Investigations by leading US media outlet The Wall Street Journal have led to the arrests of three former Credit Suisse Group bankers, Mozambique's former finance minister, Manuel Chang, and a business executive in connection with corruption. The Wall Street Journal has been unpicking deals going back to 2011, with reports about bribes and kickbacks of at least $200 million sparking a co-ordinated global crackdown on the group accused of enriching themselves and government officials. The bankers were arrested in London while Chang is being detained in South Africa. For now, authorities have not taken action against Credit Suisse, with the company noting that the former employees are alleged to have hidden their activities from the organisation. – Jackie Cameron

By Matt Wirz

Three former Credit Suisse Group AG bankers were arrested Thursday in London in connection with a $2 billion fraud scheme, according to a statement by the U.S. Department of Justice.

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