The British FCA prohibits third ex-credit Suisse Banker about the “Tuna bonds” scandal

Stay informed with free updates

Simply register Financial services Myft Digest – delivered directly to your inbox.

A former banker of Credit Suisse, who was paid by a senior colleague who used money from bribery, was paid 200,000 US dollars in the recent episode of the 2 billion US dollar “tuna bonds” scandals from USD $ 2 billion.

The Financial Conduct Authority said that Delina Subeva informed the officials that she did not know that the money was spoiled by corruption when it was paid to her by the colleague, who was named Andrew Pearse, with whom she was “in an intimate relationship”.

However, the FCA said it decided to ban her from regulated financial services roles because it kept the money, even though it was told shortly after receiving bribes. She had to falsify the funds in 2022 after her arrest in the United States three years ago.

“Ms. Subeva admitted to maintain and maintain illegal setbacks of $ 200,000,” said Steve Smart, Joint Executive Director of Enforcement and Market Oversight at FCA. “There is no place in our markets for criminal behavior.”

Subeva was one of three former Credit Suisse bankers who were charged in one of the greatest corruption scandal Africa in the United States because of their role. In March, the British supervisory authority said that it banned Pearse, a 55-year-old New Zealander, and Surjan Singh, another former managing director of Credit Suisse, after they guilty in the USA six years ago to accept at least $ 52 million in bribes who were associated with the loans arranged by them.

Subeva, a 43-year-old Bulgarian, also owed to a New York court to conspire to make money laundering in 2019. Then she was convicted at a time that was already custody after supporting the authorities in persecution of her two co -snacks.

The FCA had to delay its announcement by Subeva's ban because it initially questioned the results of the supervisory authority after sending her warning message.

Subeva left her job as Vice President at Credit Suisse shortly after receiving the spoiled money in an account that she opened in the United Arab Emirates in June 2013.

The FCA said it decided to “continue to work in connection with her co -vibrators

The former Credit Suisse Banker said that it was “unfair” for the FCA that “she could be culpable about the misconduct of others” as “the funds were paid to her account without their knowledge”, and, according to the supervisory authority, she later found out about its spoiled origin.

But the FCA rejected this and said that she admitted to keeping the money after it came from bribes, Subeva's “lack of ethical compass” showed. Then she decided not to challenge the FCA decision in the Upper Tribunal.

The case of tuna bonds comes from a USD 2 billion contract in 2013 for Mozambique, one of the poorest countries in the world, to the loans from international investors who are said to finance maritime projects, including state tuna, before investing in offshore gas.

The auditors later found that $ 500 million of the money collected by the loans could not be taken into account and that the companies that were paid behind the debts behind the equipment could be paid.

In 2021, the FCA money penalty for the Credit Suisse £ 147 million was for serious financial crime due to diligence failure to the Mozambique bonds when it also secured an agreement from the bank to award $ 200 million for the outstanding debt.

The controversy over the Mozambique bonds was one of several top-class scandals that contained Credit Suisse's reputation, had weak risk management and contributed to a loss of trust, which ultimately led to the takeover of the bank by the competition from UBS.

Subeva could not be reached for a comment. UBS rejected a statement.