Mozambique will proceed with cases in which it's suing Credit Suisse AG and the chief executive officer of shipbuilder Privinvest Group in London, even after a U.S. jury acquitted the company's sales director, the government said.
Mozambique started civil proceedings against Credit Suisse and Iskandar Safa earlier this year, claiming there was corruption involved in $2 billion of loans that financed maritime projects for state-owned companies. Privinvest supplied the equipment and the bank helped finance their purchase. Both firms deny any wrongdoing.
A U.S. jury on Monday acquitted Privinvest salesman Jean Boustani of three charges in a case related to the same projects.
Read: Salesman Cleared in $2 Billion African Scam in Blow to U.S.
To contact the reporter on this story: Matthew Hill in Maputo at mhill58@bloomberg.net
To contact the editors responsible for this story: Gordon Bell at gbell16@bloomberg.net, Paul Richardson, Hilton Shone
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