Ex-Credit Suisse Banker skips the prison for the help of the US case | Company Business News

A former Credit-Suis group AG-Banker who acknowledged that his role in a $ 2 billion fraud and money laundering avoided prison on Wednesday after working with the government. Surjan Singh testified during two US trials in Brooklyn, New York, of what became known as the Tuna Bond scandal for its dubious maritime projects, including a fishing fleet in Mozambique that caused a financial crisis in the African nation. Former Finance Minister Manuel Chang was convicted during a hearing and sentenced to 8 1/2 years in prison in January for his role in the scheme. Singh also testified during an earlier hearing against a shipping manager who was acquitted. US district judge Nicholas Garaufis cited Singh’s assistance to the government’s investigation as a reason not to impose a imprisonment. “I have the first -hand testimony of Mr. Singh, ‘the judge said. “I find that he was candid, directly, measured and considerate.” Singh faced between 46 months and 57 months imprisonment. A Jury from Brooklyn in 2024 found Chang guilty of conspiracy of a wire fraud and a second scheme to wash money. The panel also found that it had suffered $ 7 million in illegal setbacks, and in return, prosecutors said Chang agreed to approve and guarantee $ 2 billion loans to state -owned entities in Mozambique. While funds were intended to finance three maritime projects, evidence showed that Chang and its fellow mergers derived more than $ 200 million to loan returns to pay bribes and setbacks to Bankers and Mozambique officials. Singh was accused of putting back $ 5.7 million. Singh was the last of three former Credit Suisse bankers who pleaded guilty to millions of dollars of setbacks. Andrew Pearse, who was the boss of Singh and served as the star witness of the government at both hearings, also avoided the prison. A third banker, Detelina Subeva, pleaded guilty, but did not testify. © 2025 Bloomberg MP This article was generated from an automatic news agency feed without edits to text.