Credit Suisse Group AG

On 19 October 2021 the US Department of Justice said Credit Suisse Group AG entered a deferred prosecution agreement and Credit Suisse Securities (Europe) pleaded guilty to conspiracy to commit wire fraud over Mozambique loans^S1. The DOJ said the contractor paid about US$50 million in kickbacks to bankers at the UK unit^S1. UBS says the DOJ extended the agreement to January 2026^S4. In the English Commercial Court the bank and other lenders settled with Mozambique on the eve of trial^S2. Credit Suisse Group AG merged into UBS Group AG on 12 June 2023^S3. A Swiss court dismissed related charges against UBS in April 2026, and the prosecutor appealed^S5.

Also known as: Credit Suisse, Credit Suisse Securities (Europe) Limited, Credit Suisse International, Credit Suisse AG
Headquarters: Switzerland
Records from: United States, United Kingdom, Switzerland
Current status: Credit Suisse Group AG no longer exists as a separate listed company. UBS said on 12 June 2023 that it had completed the acquisition and merged Credit Suisse Group AG into UBS Group AG^S3.

Scope. This record covers only the Mozambique loans arranged by Credit Suisse entities for ProIndicus, EMATUM and MAM. It does not cover other Credit Suisse matters or the conduct of UBS before the merger.

Claims assessed

4 claims. Scores grade the evidence for each claim, not the organization.

Supported88
The US Department of Justice said in October 2021 that Credit Suisse entities resolved the Mozambique loan case with more than US$547 million in penalties, fines and disgorgement, including a guilty plea by its UK unit.
Regulator statement, 19 October 20213 records citedFraud
Supported86
The DOJ said the Mozambique project contractor paid about US$50 million in kickbacks to bankers at Credit Suisse's UK unit.
Regulator statement, 19 October 20213 records citedBribery
Supported81
Credit Suisse settled the Republic of Mozambique's London claim over the loans on the eve of trial.
Court filing, 29 July 20242 records citedFraud
Outdated84
The October 2021 DOJ release presented Credit Suisse Group AG as the parent bank that entered the Mozambique deferred prosecution agreement.
Regulator statement, 19 October 20214 records citedCorporate status

Cases and proceedings

United States v. Credit Suisse Securities (Europe) Limited and Credit Suisse Group AGUS District Court for the Eastern District of New York. Criminal. 21-CR-520 (Credit Suisse Securities (Europe) Limited) and 21-CR-521 (Credit Suisse Group AG).Stage: Guilty plea by the UK unit. DPA with the parent extended to January 2026, formal end not found^S4
- 19 October 2021 Plea to conspiracy to commit wire fraud and DPA announced^S1
- January 2025 DOJ extends DPA term to January 2026, per UBS^S4
The Republic of Mozambique (acting through its Attorney General) v Credit Suisse International and othersHigh Court of Justice, Business and Property Courts of England and Wales, Commercial Court. Civil. [2024] EWHC 1957 (Comm).Stage: Judgment given on 29 July 2024. Credit Suisse claims settled before trial
- 29 July 2024 Judgment in [2024] EWHC 1957 (Comm)^S2
Office of the Attorney General of Switzerland v UBS Group AG and UBS AGSwiss criminal court on charges filed by the Office of the Attorney General of Switzerland (court named in the UBS report). Criminal. Not published.Stage: Dismissed in April 2026, appeal by the Attorney General pending^S5
- April 2026 Proceedings dismissed, criminal liability found not transferable^S5

Revision history

25 October 2026 Profile and 4 assessments first published. Records checked to 25 October 2026.

Source records

S1Tier A Credit Suisse Resolves Fraudulent Mozambique Loan Case in $547 Million Coordinated Global ResolutionUS Attorney's Office, Eastern District of New York. Regulator press release. 19 October 2021.Supports the DPA, the UK unit's plea, the US$547 million total and the kickback figure. It does not state the SEC and FCA amounts separately.Link working, checked 25 October 2026
S4Tier B Litigation, regulatory and similar mattersUBS Group AG (Form 20-F filed with the SEC). Company filing. 9 March 2026.UBS annual report note for 2025. Supports the three-year DPA and its extension to January 2026. It does not say the DPA has ended.
S2Tier A The Republic of Mozambique (acting through its Attorney General) v Credit Suisse International and others [2024] EWHC 1957 (Comm)High Court of Justice, Commercial Court (National Archives). Court judgment. 29 July 2024.Records the eve of trial settlement and the three borrowers. We did not read its final orders on other parties.Link working, checked 25 October 2026
S5Tier B Litigation, regulatory and similar mattersUBS Group AG (Form 6-K filed with the SEC). Company filing. 29 July 2026.UBS report for the quarter to 30 June 2026. Supports the Swiss charges filed in November 2025, their April 2026 dismissal and the appeal. It does not mention the DPA.
S3Tier B UBS completes Credit Suisse acquisitionUBS Group AG (Form 6-K filed with the SEC). Company filing. 12 June 2023.Supports the merger of Credit Suisse Group AG into UBS Group AG. It does not address the DPA.