FCA prohibits former Credit Suisse executives according to US convictions | Financial behavioral authority

The FCA banned Andrew Pearse and Surjan Singh from the British financial services industry.

The former directors of the Credit Suisse were banned due to lack of integrity after we have been convicted of organizing corrupt loans to the Republic of Mozambique.

In July 2019, Mr. Pearse in the United States guilty to commit money laundering and wire fraud. This included over 45 million US dollars in illegal setbacks in connection with the loans.

In September 2019, Mr. Singh in the USA also guilty of his role in the conspiracy of committing money laundering. This included that he accepted 5.7 million US dollars in illegal setbacks in connection with the loans.

In October 2021, as part of a global comparison of $ 475 million for serious diligence errors of $ 475 million, which was condemned over 145 million GBP over 145 million GBP with the loans that the bank organized for the Republic of Mosambique, worth 1.3 billion GBP. The loans were spoiled by corruption. The FCA also secured the agreement of Credit Suisse to write down $ 200 million debts due to the Republic of Mozambique.

Steve Smart, Joint Executive Director of Enforcement and Market Oversight at the FCA, said yesterday:

“Mr. Pearse and Mr. Singh were experienced executives of the Credit Suisse, who admit that they received over $ 50 million setbacks. There is no place in our markets for those who run bribery and corruption. “

Notes to editors

1. Completion 2025: Andrew James Pearse
2. Last message 2025: Surjan Singh
3. Final communication 2021: Credit Suisse
4. You can find more information about the FCA.