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

Banks accused of ‘organisational deficiencies’ relating to scam that crashed Mozambique economy nearly a decade ago

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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.