Swiss prosecutors file charges against Credit Suisse and UBS over ‘tuna bonds’ scandal
Banks accused of ‘organisational deficiencies’ relating to scam that crashed Mozambique economy nearly a decade agoBusiness live –latest updatesSwitzerland’s federal prosecutor has filed charges against the failed bank Credit Suisse and its new owner, UBS, over the long-running “tuna...
<p>Banks accused of ‘organisational deficiencies’ relating to scam that crashed Mozambique economy nearly a decade ago</p><ul><li><p><a href="https://www.theguardian.com/business/live/2025/dec/01/uk-economic-growth-2026-unemployment-rises-budget-sterling-bonds-stock-market-business-live">Business live –latest updates</a></p></li></ul><p>Switzerland’s federal prosecutor has filed charges against the failed bank Credit Suisse and its new owner, UBS, over the long-running “tuna bonds” loan scandal that <a href="https://www.theguardian.com/global-development/2017/jan/27/mozambique-fabulous-wealth-gas-reserves-pay-nurses-debt-crisis">crashed Mozambique’s economy nearly a decade ago.</a></p><p>The Swiss attorney general <a href="https://www.bundesanwaltschaft.ch/en/newnsb/4gw8CbcWrf9y9WTv8r_Up">said on Monday</a> that it had brought money-laundering charges against an unnamed employee of Credit Suisse, but was also taking action against the lender and its <a href="https://www.theguardian.com/business/2023/mar/19/credit-suisse-bank-of-england-wont-object-to-takeover-as-ubs-considers-1bn-bid">rival-turned-owner UBS</a>.</p> <a href="https://www.theguardian.com/business/2025/dec/01/swiss-charges-credit-suisse-ubs-tuna-bonds-mozambique">Continue reading...</a>
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