Publishing Guide

Upcoming Events

International | Economics and Finance

no events match your query!

New Events

no events posted in last week

Other Press

Economics and Finance

China’s CITY WIDE CASH SEIZURES Begin — ATMs Frozen, Digital Yuan FORCED Overnight 21:40 Jul 30 0 comments

The Coming European Economic Apocalypse 21:13 Dec 01 1 comments

Ryanair CEO Michael O'Leary ridicules Government restrictions and calls for 'unnecessary' lockdown t... 01:55 May 31 0 comments

Anti Environmental CETA Trade Agreement ratification approved despite protests 20:58 May 08 0 comments

Runaway Train Towards Full Digitization of Money and Labor 14:18 Jan 01 2 comments

more >>

User Preferences

Feeds

Blog Feeds

Anti-Empire

North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

Trump Assembles a War Cabinet Sat Nov 16, 2024 10:29 | Marko Marjanovi?

Slavgrinder Ramps Up Into Overdrive Tue Nov 12, 2024 10:29 | Marko Marjanovi?

?Existential? Culling to Continue on Com... Mon Nov 11, 2024 10:28 | Marko Marjanovi?

US to Deploy Military Contractors to Ukr... Sun Nov 10, 2024 02:37 | Field Empty

Human Rights in Ireland

Indymedia Ireland is a volunteer-run non-commercial open publishing website for local and international news, opinion & analysis, press releases and events. Its main objective is to enable the public to participate in reporting and analysis of the news and other important events and aspects of our daily lives and thereby give a voice to people.

Rip The Chicken Tree - 1800s - 2025 [1] Tue Nov 04, 2025 03:48 | Mark

Rip The Chicken Tree - 1800s - 2025 [2] Tue Nov 04, 2025 03:43 | Mark

Rip The Chicken Tree - 1800s - 2025 [3] Tue Nov 04, 2025 03:40 | Mark

Study of 1.7 Million Children: Heart Damage Only Found in Covid-Vaxxed Kids Sat Nov 01, 2025 00:44 | imc

The Golden Haro Fri Oct 31, 2025 12:39 | Paul Ryan

Human Rights in Ireland >>

Lockdown Skeptics

Worries About Net Zero, Mass Immigration and Covid Vaccines Targeted as ?Conspiracy Theories? in Nat... Sat Nov 08, 2025 07:00 | Steven Tucker
Worries about Net Zero, mass immigration and Covid vaccines are being targeted as "conspiracy theories" in Labour's National Curriculum review. But the commissioners have some weird ideas of their own, says Steven Tucker.
The post Worries About Net Zero, Mass Immigration and Covid Vaccines Targeted as “Conspiracy Theories” in National Curriculum Review appeared first on The Daily Sceptic.

News Round-Up Sat Nov 08, 2025 01:08 | Toby Young
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
The post News Round-Up appeared first on The Daily Sceptic.

Humiliation for Police Scotland as it Drops Case Against Women?s Rights Campaigner in Brollygate Row Fri Nov 07, 2025 17:00 | Will Jones
Police Scotland has been left humiliated after it was forced to drop its case against a women's rights campaigner for allegedly damaging a trans activist's umbrella in what's been dubbed the 'brollygate' row.
The post Humiliation for Police Scotland as it Drops Case Against Women’s Rights Campaigner in Brollygate Row appeared first on The Daily Sceptic.

Oatly CEO Admits ?Climate Doom? Marketing Has Backfired as Sales Plummet Fri Nov 07, 2025 15:04 | Lee Taylor
Oatly's CEO has admitted that the company?s 'climate doom' marketing has backfired as sales plummet. It turns out that terrifying people into buying oat milk isn't a sustainable business model, says Lee Taylor.
The post Oatly CEO Admits ‘Climate Doom’ Marketing Has Backfired as Sales Plummet appeared first on The Daily Sceptic.

Labour?s National Curriculum Review Risks Being a Trojan Horse for Smuggling Left-Wing Agendas Into ... Fri Nov 07, 2025 13:00 | Amanda Spielman
Labour's National Curriculum review is finally out. While it's much better than feared, there's a clear risk it will be a Trojan Horse for smuggling Left-wing agendas into schools, warns Amanda Spielman.
The post Labour’s National Curriculum Review Risks Being a Trojan Horse for Smuggling Left-Wing Agendas Into Schools appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Voltaire Network

Voltaire, international edition

Will intergovernmental institutions withstand the end of the "American Empire"?,... Sat Apr 05, 2025 07:15 | en

Voltaire, International Newsletter N?127 Sat Apr 05, 2025 06:38 | en

Disintegration of Western democracy begins in France Sat Apr 05, 2025 06:00 | en

Voltaire, International Newsletter N?126 Fri Mar 28, 2025 11:39 | en

The International Conference on Combating Anti-Semitism by Amichai Chikli and Na... Fri Mar 28, 2025 11:31 | en

Voltaire Network >>

Credit Suisse Banker Pleads Guilty in Mozambique Loan Scandal

international | economics and finance | news report

Monday July 22, 2019 23:08

by Kate Zeller - Jubilee USA Network

Report this post to the editors

On Friday, former Credit Suisse banker Andrew Pearse pled guilty in US Federal Court for accepting millions of dollars in a fraud scheme that led to a $2 billion Mozambique loan scandal and debt crisis in the East African country.

Washington DC - On Friday, former Credit Suisse banker Andrew Pearse pled guilty in US Federal Court for accepting millions of dollars in a fraud scheme that led to a $2 billion Mozambique loan scandal and debt crisis in the East African country. Pearse and six others are accused of taking $200 million in the scheme.

“Mozambique, one of the poorest countries in the world, is dealing with a financial crisis because of the greed of corrupt bankers," said United Nations corruption and finance expert Eric LeCompte and Executive Director of the religious development group Jubilee USA Network. “This behavior is only possible because of a lack of global loan transparency and a lack of public budget transparency in Mozambique.”

US prosecutors argue that Credit Suisse and Russian-based VTB finance group hid secret loans to the Mozambique government by bribing bank and government officials. The loans were supposed to support the tuna fishing industry, but instead supported the outfitting of boats for military attack crafts. When the secret loans to Mozambique were revealed in 2016, the IMF and World Bank cut ties with the country, halting development funding. This year, Mozambique was hit with two cyclones further impacting the debt ridden and poverty stricken country.

"Mozambique is struggling to recover from a debt crisis and terrible natural disasters," noted LeCompte.

Add Your Comments >>

printable version

with comments

atom feed of comments

rss feed of comments

RSS and atom feeds allow you to keep track of new comments on particular stories. You can input the URL's from these links into a rss reader and you will be informed whenever somebody posts a new comment.

Digg this

Furl

Reddit

Gab

Twitter

save preference

Comments (1 of 1)

#	Title	Author	Date
1	Financial colonialism already well documented	T	Mon Jul 22, 2019 23:16

Add Your Comments >>

© 2001-2025 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy