Browsing: Credit Suisse

Hidden Debts dossier Credit Suisse arranged the ProIndicus and EMATUM loans.
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An investigation by the United States Department of Justice and the Federal Bureau of Investigations (FBI) into the ProIndicus, EMATUM and MAM deals could have major repercussions for the three banks involved - but is unlikely to have direct implications [...]

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Hidden Debts dossier A ProIndicus maritime defence vessel in the port of Pemba, northern Mozambique. Photo © Zitamar News
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The full audit by Kroll into Mozambique’s $2 billion hidden debt scandal, intended by Mozambique’s Attorney General to be seen by select figures only at this stage, has been put online by journalist Joseph Hanlon and
Hidden Debts dossier Some of the patrol boats bought by EMATUM or ProIndicus. Photo © Tom Bowker  / Zitamar News
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Forensic auditors Kroll have called on the UK and Swiss financial authorities to investigate the three deals that saw Mozambican state-owned companies secretly borrow $2 billion to purchase maritime security hardware and technology.

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Hidden Debts dossier Credit Suisse arranged the ProIndicus and EMATUM loans.
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The Mozambique maritime companies that took out $2 billion in ‘hidden loans’ in 2013 and 2014 paid more than $140 million to lenders to make their loans look cheap enough to win government guarantees, the
Business Privinvest boats visible behind the wall of the shipyard taken over by MAM in Maputo. Photo © Zitamar News, May 2017
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Mozambique Asset Management, the company which borrowed $535 million in secret with state guarantees to build and repair boats, has now taken possession of the shipyard in Maputo harbour that it needs in order to start becoming an operating [...]

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Politics & Economy Some of the patrol boats bought by EMATUM or ProIndicus. Photo © Tom Bowker  / Zitamar News
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The decision by the Mozambique Parliament last week to approve the 2015 accounts - which included the $1,157 million in government guarantees for the loans taken out by maritime security companies ProIndicus and MAM in 2013 and 2014 - appears to be the [...]

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