A New Zealand man has been indicted and is being alleged as the brain behind a $2 billion fraud case in Mozambique.
Former Credit Suisse banker Andrew James Pearse is one of about 20 people charged in New York with defrauding investors, TVNZ reports. United States prosecutors reportedly portrayed Pearse as one of the ringleaders of the scam. He is alleged to have siphoned some $45 million himself while head of Credit Suisse.
The publication detailed Pearse had previously owned two properties in Christchurch, both of which were last sold on the same day in 2013 – the year the alleged fraud began.
Now, Pearse, along with two others, was released on bail awaiting proceeding to be extradited to the US.