Blog Feeds

The Saker
A bird's eye view of the vineyard

offsite link Presidential Press Secretary Peskov: Bolivia Was An Orchestrated Coup to Overthrow Morales! Tue Nov 12, 2019 21:18 | The Saker
Russia backs Morales and insists for the upholding of the rule of law.  Good!

offsite link A few short comments about the Fascist coup in Bolivia Tue Nov 12, 2019 19:17 | The Saker
These are the folks who just came to power: They are all members of some kind of Fascist “Christian” cult. This is what these folks did with those who dare

offsite link Democracy is restored to Bolivia (one image) Tue Nov 12, 2019 18:17 | The Saker
After all, what can be more “democratic” than the military demanding that their Commander in Chief step down?

offsite link Butina Reflection Tue Nov 12, 2019 18:08 | The Saker
by William Spencer for the Saker Blog Hi, I am writing this with a few men and women in mind I corresponded with a few months ago overseas, but I?d

offsite link QE paid for a foreign buying spree: developing countries hurt the most Tue Nov 12, 2019 18:01 | The Saker
by Ramin Mazaheri for The Saker Blog Of course, developing countries were not hurt by the subprime crisis because they were not involved ? the idiocy, usury, malfeasance and willful

The Saker >>

Human Rights in Ireland
A Blog About Human Rights

offsite link US Holds China To Account For Human Rights Violations Sun Oct 13, 2019 19:12 | Human Rights

offsite link UN Human Rights Council Should Address Human Rights Crisis in Cambodia Sat Aug 31, 2019 13:41 | Human Rights

offsite link Fijian women still face Human Rights violations Mon Aug 26, 2019 18:49 | Human Rights

offsite link Saudi Human Rights Violation Fri Aug 09, 2019 20:41 | Human Rights

offsite link China?s LGBT Community Mon Apr 15, 2019 19:19 | Human Rights

Human Rights in Ireland >>

Cedar Lounge
For lefties too stubborn to quit

offsite link Attention seeker 18:35 Tue Nov 12, 2019 | WorldbyStorm

offsite link Changing the narrative on the climate crisis 11:54 Tue Nov 12, 2019 | WorldbyStorm

offsite link Left resources and links ? November 2019 11:08 Tue Nov 12, 2019 | guestposter

offsite link Ban private jets? 09:53 Tue Nov 12, 2019 | WorldbyStorm

offsite link A New Tactic ?? 09:27 Tue Nov 12, 2019 | irishelectionliterature

Cedar Lounge >>

Dublin Opinion
Life should be full of strangeness, like a rich painting

offsite link Some Thoughts on the Brexit Joint Report 11:50 Sat Dec 09, 2017

offsite link IRISH COMMONWEALTH: TRADE UNIONS AND CIVIL SOCIETY IN THE 21ST CENTURY 14:06 Sat Nov 18, 2017

offsite link Notes for a Book on Money and the Irish State - The Marshall Aid Program 15:10 Sat Apr 02, 2016

offsite link The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015

offsite link Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015

Dublin Opinion >>

Credit Suisse Banker Pleads Guilty in Mozambique Loan Scandal

category international | economics and finance | news report author Monday July 22, 2019 23:08author 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.

Related Link: http://www.jubileeusa.org

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


 
© 2001-2019 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