Mozambique Sees U.K. Cases Against Credit Suisse, Privinvest Chief Unaffected by U.S. Verdict

(Bloomberg) --

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.

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