U.S. prosecutors believe they have evidence of the Swiss lender’s culpability for the $2bn secret debt after three former bankers pleaded guilty last year, according to Reuters (16 March). "Prosecutors believe Credit Suisse can be held criminally liable for its employees’ crimes if they were committed in the scope of their role and at least partly benefited the bank, said one of the sources who is a US law enforcement official. They believe a plea deal and testimonies from two former bankers at a subsequent trial give them evidence of the bank’s culpability," Reuters said.
Meanwhile, the first payment of $22.5 mn on the new Ematum bonds was due on yesterday, 16 March.
The Mail and Guardian (21 Feb) accused prominent South African estate agent Pam Golding of handling some of the money, which was used to buy property as a form of money laundering. US court transcripts show Privinvest, the company behind the secret $2 bn loans, sent Rand 50 mn ($3 mn) to buy properties in Cape Town for Armando Guebuza's children Armando and Valentina.