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Nov. 6, 2017, 4:36 a.m. EST

U.S. probes Credit Suisse, BNP Paribas, VTB over Mozambique debt sales

FBI probes whether banks facilitated corruption; Justice Department has met with investors

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By Matt Wirz and Jenny Strasburg


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Credit Suisse, the Switzerland's second largest bank, is one of the institutions under investigation by U.S. authorities.

The U.S. Justice Department and Federal Bureau of Investigation are investigating three international banks for their roles in selling about $2 billion of debt for Mozambique, opening a new phase in the global inquiry into the bond deals, people familiar with the matter said.

Swiss lender Credit Suisse Group AG /zigman2/quotes/205269278/delayed CH:CSGN +3.87%   /zigman2/quotes/202835784/composite CS 0.00%  , Russian bank VTB Group   and French bank BNP Paribas SA /zigman2/quotes/206351084/delayed FR:BNP +2.52%   /zigman2/quotes/208203789/delayed BNPQY +1.34%  are focuses of the U.S. probes, the people said. The FBI is looking into whether the banks facilitated corruption by enabling Mozambican officials to take money raised in the debt sales, the people said.

Financial regulators in the U.S., the U.K. and Switzerland began probes into potential securities-law violations by the banks last year, after The Wall Street Journal reported the existence of irregularities in the Mozambican transactions. The newer U.S. inquiries widen the scope of the probes to include potential corruption and raise the possibility of criminal prosecution.

Credit Suisse has been trying to rehabilitate its international image for more than a year and recently restructured the investment banking unit that handled the Mozambican deals.

An expanded version of this report appears on WSJ.com

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Sept. 30, 2022 5:31p
P/E Ratio
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$ 3.92
0.00 0.00%
Volume: 15.10M
Sept. 30, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
0.99%
Market Cap
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FR : France: Euronext Paris
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Sept. 30, 2022 5:38p
P/E Ratio
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8.42%
Market Cap
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$ 21.12
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P/E Ratio
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Market Cap
$52.70 billion
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$541,840
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