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Swiss open investigation into Mozambique loan scandal 

Swiss prosecutors have opened an investigation into a suspected money laundering scandal involving loans to state-owned companies in Mozambique which plunged the southern African country into debt crisis.  Confirming an earlier report in the NZZ newspaper, the Swiss Office of the Attorney General said on Friday that it had opened criminal proceedings in February this year. "The criminal proceedings are being conducted against persons unknown," it told Reuters in an e-mailed statement.   Credit Suisse, through its London subsidiary, was one of the lenders that helped arrange government-guaranteed loans between 2013 and 2016 to develop Mozambique's maritime capacities and tuna fishing industry. Government representatives took out loans worth a total of more than $2 billion (CHF 1.94 billion) without the knowledge of parliament and in some cases without the knowledge of the International Monetary Fund, according to NZZ. Around half of these loans came from the Swiss bank.   ...

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