The UK Financial Conduct Authority (FCA) has banned two former Credit Suisse bankers from the financial sector for "lacking integrity" due to their roles in Mozambique's $2 billion "tuna bonds" corruption scandal, as reported by the Financial Times.
The FCA's decision follows the bankers' 2019 guilty pleas in the US for accepting at least $52 million in bribes linked to fraudulent loans. "There is no place in our markets for those who engage in bribery and corruption," said Steve Smart, Joint Executive Director of Enforcement at the FCA.
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