Bankers arrested in UK over $2bn Mozambique fraud

Three former Credit Suisse bankers have been arrested over their alleged role in a $2bn fraud scheme connected to firms in Mozambique. PHOTO | REUTERS

Three former Credit Suisse bankers were arrested on charges that they took part in a $2 billion fraud scheme involving companies in Mozambique, United States authorities said.

The scheme allegedly involved loans to state-owned companies in Mozambique.