New Events

International

no events posted in last week

Blog Feeds

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link RTEs Sarah McInerney ? Fianna Fail?supporter? Anthony

offsite link Joe Duffy is dishonest and untrustworthy Anthony

offsite link Robert Watt complaint: Time for decision by SIPO Anthony

offsite link RTE in breach of its own editorial principles Anthony

offsite link Waiting for SIPO Anthony

Public Inquiry >>

Human Rights in Ireland
Promoting Human Rights in Ireland

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link News Round-Up Sun Jan 19, 2025 01:06 | Will Jones
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
The post News Round-Up appeared first on The Daily Sceptic.

offsite link The Proof That Lockdown Critics Were ?Debanked? Because of Their Views Sat Jan 18, 2025 19:00 | Toby Young
PayPal has finally admitted that the reason it shut the account of UsForThem is because it disapproved of the lobby group's stance on mandatory Covid vaccines for children and school closures.
The post The Proof That Lockdown Critics Were ?Debanked? Because of Their Views appeared first on The Daily Sceptic.

offsite link Attorney General Fought Home Office to Help Migrants Stay in U.K. Sat Jan 18, 2025 17:00 | Will Jones
Keir Starmer's Attorney General Lord Hermer fought the Home Office in the courts to try to help migrants stay in the U.K. The Lefty lawyers are in charge now, and don't we know it.
The post Attorney General Fought Home Office to Help Migrants Stay in U.K. appeared first on The Daily Sceptic.

offsite link SNP Takes Teachers Out of School for ?Racial Microaggression? Training Sat Jan 18, 2025 15:00 | Will Jones
An SNP training programme allows teachers to take the equivalent of?three days out from the classroom?to learn how to "decode racial microaggressions".
The post SNP Takes Teachers Out of School for “Racial Microaggression” Training appeared first on The Daily Sceptic.

offsite link Asda Backs Farmers Over Inheritance Tax in Blow to Starmer Sat Jan 18, 2025 13:00 | Will Jones
Asda?has publicly backed farmers in their row with Labour over its?inheritance tax raid?following tractor protests outside of supermarkets in a new blow to Starmer and Reeves.
The post Asda Backs Farmers Over Inheritance Tax in Blow to Starmer appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Voltaire Network
Voltaire, international edition

offsite link Voltaire, International Newsletter N?116 Sat Jan 18, 2025 06:46 | en

offsite link After the United Kingdom, Germany and Denmark, the Trump team prepares an operat... Sat Jan 18, 2025 06:37 | en

offsite link Trump and Musk, Canada, Panama and Greenland, an old story, by Thierry Meyssan Tue Jan 14, 2025 07:03 | en

offsite link Voltaire, International Newsletter N?114-115 Fri Jan 10, 2025 14:04 | en

offsite link End of Russian gas transit via Ukraine to the EU Fri Jan 10, 2025 13:45 | en

Voltaire Network >>

Credit Suisse Banker Pleads Guilty in Mozambique Loan Scandal

category international | economics and finance | news report author Monday July 22, 2019 23:08author by Kate Zeller - Jubilee USA Network Report this post to the editors

On Friday, former Credit Suisse banker Andrew Pearse pled guilty in US Federal Court for accepting millions of dollars in a fraud scheme that led to a $2 billion Mozambique loan scandal and debt crisis in the East African country.

Washington DC - On Friday, former Credit Suisse banker Andrew Pearse pled guilty in US Federal Court for accepting millions of dollars in a fraud scheme that led to a $2 billion Mozambique loan scandal and debt crisis in the East African country. Pearse and six others are accused of taking $200 million in the scheme.

“Mozambique, one of the poorest countries in the world, is dealing with a financial crisis because of the greed of corrupt bankers," said United Nations corruption and finance expert Eric LeCompte and Executive Director of the religious development group Jubilee USA Network. “This behavior is only possible because of a lack of global loan transparency and a lack of public budget transparency in Mozambique.”

US prosecutors argue that Credit Suisse and Russian-based VTB finance group hid secret loans to the Mozambique government by bribing bank and government officials. The loans were supposed to support the tuna fishing industry, but instead supported the outfitting of boats for military attack crafts. When the secret loans to Mozambique were revealed in 2016, the IMF and World Bank cut ties with the country, halting development funding. This year, Mozambique was hit with two cyclones further impacting the debt ridden and poverty stricken country.

"Mozambique is struggling to recover from a debt crisis and terrible natural disasters," noted LeCompte.

Related Link: http://www.jubileeusa.org
author by Tpublication date Mon Jul 22, 2019 23:16author address author phone Report this post to the editors

This form of financial colonialism was well documented by John Perkins who worked for the World Bank and eventually his conscience got the better of him and he revealed all in his book. Confessions of an Economic Hit Man

And many years earlier the economist Michael Hudson wrote in 1972: Super imperialism : the economic strategy of American empire

So giving loans to poor countries to make them poorer and use it as a means to steal all their resources has been part of the plan all along. It is unclear why now they are putting people on trial in court. Perhaps it is American banks are competing with European banks in the robbery and Trump has ordered behind the scenes the investigation so that the competition is removed and American banks can get in there and doing the robbing.

 
© 2001-2025 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy