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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff Banking correspondent

Swiss prosecutors file charges against Credit Suisse and UBS over ‘tuna bonds’ scandal

A UBS logo at the branch of former Swiss bank Credit Suisse in Lausanne, Switzerland
UBS took over Credit Suisse as part of a rescue deal brokered by Swiss authorities in 2023. Photograph: Denis Balibouse/Reuters

Switzerland’s federal prosecutor has filed charges against the failed bank Credit Suisse and its new owner, UBS, over the long-running “tuna bonds” loan scandal that crashed Mozambique’s economy nearly a decade ago.

The Swiss attorney general said on Monday that it had brought money-laundering charges against an unnamed employee of Credit Suisse, but was also taking action against the lender and its rival-turned-owner UBS.

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