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Credit Suisse Ignored Warnings about Mozambique

Credit Suisse Group AG ignored warnings from its outgoing regional chief executive officer on the risks of lending $2 billion to Mozambique in a scandal that has landed the Swiss bank in a lawsuit and opened up questions about its due diligence. A legal filing from Credit Suisse published last week has revealed that Fawzi Kyriakos-Saad, at the time the chief of the bank’s EMEA business, warned a group of dealmakers not to proceed with the initial stage of the multi-billion dollar financing.