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Ex-Credit Suisse Banker Admits Kickbacks in Mozambique Scam

  • Andrew Pearse among ex-bankers charged in $2 billion scandal
  • It’s not clear if Pearse is cooperating with U.S. prosecutors
Andrew Pearse on March 8.
Andrew Pearse on March 8.Photographer: Chris Ratcliffe/Bloomberg
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A former Credit Suisse Group AG banker admitted taking millions of dollars in kickbacks as part of a scam that involved as much as $2 billion in loans to Mozambique state-owned companies.

Andrew Pearse, 49, a former managing director, made the admission Friday as he pleaded guilty to wire fraud in federal court in Brooklyn, New York.