UBS (UBS) has settled with Mozambique over Credit Suisse’s (CS) involvement in a GBP 2B “tuna bond” fraud, Joseph Cotterill and Own Walker of The Financial Times reports. Credit Suisse and Mozambique “have mutually released each other from any liabilities and claims” related to loans and bond issues, UBS said, according to the Times. UBS will not pay any cash under the settlement, people familiar with the details told the Times.
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