The FCA has banned two ex-Credit Suisse bankers, Andrew Pearse and Surjan Singh, for their involvement in bribery related to Mozambique’s corrupt loans. Pearse admitted to over $45 million in kickbacks, while Singh received $5.7 million. Both have been barred from the UK financial services industry for a lack of integrity.
The United Kingdom’s Financial Conduct Authority (FCA) has implemented bans on two former bankers from Credit Suisse subsequent to their convictions linked to the corruption surrounding Mozambique’s ‘tuna bonds’ scandal. The individuals in question, Andrew Pearse and Surjan Singh, were found guilty of receiving substantial bribes to orchestrate corrupt loans. Mr. Pearse admitted to taking over $45 million, while Mr. Singh accepted $5.7 million in illicit payments. As a result of their actions, both have been barred from participating in the UK financial services sector due to a lack of integrity.
In summary, the FCA has taken decisive action against former Credit Suisse bankers Andrew Pearse and Surjan Singh, who were involved in a substantial bribery case related to Mozambique’s loans. Their significant financial misconduct has not only led to their criminal convictions but also to lifetime bans from the UK’s financial services industry, emphasizing the regulatory body’s commitment to maintaining integrity within the sector.
Original Source: www.amlintelligence.com
