US prosecutors paint Kiwi banker Andrew Pearse as ringleader in $3b Mozambique corruption scandal

ANALYSIS: A 47-page US indictment against Kiwi banker Andrew Pearse reads like a script to a Hollywood movie.

The plot plays out over four years, and centres around three bankers who allegedly defeated the internal controls of one of the world’s biggest investment banks to transfer US$2 billion (NZ$2.9b) in corrupt loans to one of the world’s poorest countries for their personal profit.

It features a French billionaire’s ship-building business, corrupt Mozambique officials, hundreds of millions of dollars in international wire transfers and allegations of money laundering, bribery, conspiracy and fraud against the small group of former Credit Suisse employees.

And at the centre of it all is Pearse – a 49-year-old Christchurch man, who, until his arrest in London last Thursday, was virtually unknown in New Zealand.

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... read more at: https://www.stuff.co.nz/business/industries/109814849/us-prosecutors-paint-kiwi-banker-andrew-pearse-as-ringleader-in-3b-mozambique-corruption-scandal

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