Former Credit Suisse bankers arrested over “£1.58bn fraud scheme”

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Three former bankers at multi-national investment bank, Credit Suisse, have been arrested in London after being accused of committing fraud worth almost £1.6bn, according to US prosecutors.

The indictment, which was filed in New York earlier this week, saw Andrew Pearse (49), Surjan Singh (44) and Detelina Subeva (37) being charged with conspiring to violate anti-bribery laws, money laundering and securities fraud.

The former employees have been released on bail in the UK, while the US seeks to gain extradition.

“The indictment alleges that the former employees worked to defeat the bank’s internal controls, acted out of a motive of personal profit, and sought to hide these activities from the bank,” Credit Suisse said in a statement.

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