January 4, 2019

Three former employees of investment bank indicted in the EDNY

In an indictment made public today, three former employees of an unnamed investment bank, the former Minister of Finance of Mozambique, and an executive of an Emirati projects management and supply company were variously charged with conspiracy to violate the anti-bribery and internal controls provisions of the FCPA and conspiracy to commit wire fraud, securities fraud, and money laundering.  The defendants are accused of using the proceeds of loans extended to Mozambican state-owned entities in connection with large marine projects to pay $250 million in bribes and kickbacks to Mozambican government officials and others through inflated contracts with the Emirati company.  Willkie Farr represents the executive of the Emirati company charged in the indictment.