Archive · 19 Jun 2025
Ex-Credit Suisse Banker Avoids Prison After US Fraud Cooperation
A former banker named Surjan Singh helped the US government catch some bad guys who were involved in a big financial scam.
These people stole $2 billion through a money laundering scheme.
They were supposed to use the money for things like fishing boats in Mozambique.
Singh told the truth in court and helped the government.
He admitted taking millions of dollars himself.
Because he helped out, the judge decided not to send him to jail.
One of the other people involved, the finance minister of Mozambique, did go to jail for eight and a half years.
Former Credit Suisse banker Surjan Singh avoided prison after cooperating with the US government in a $2 billion fraud case.
Singh testified in two US trials related to the 'tuna bond scandal' involving fraudulent maritime projects in Mozambique.
A Brooklyn jury convicted former Mozambican Finance Minister Manuel Chang in the scheme and sentenced him to 8 1/2 years.
Judge Nicholas Garaufis cited Singh's cooperation as the reason to avoid prison, noting his candid and thoughtful testimony.
Singh admitted to taking $5.7 million in kickbacks as part of the scheme, which diverted funds intended for maritime projects.
- Who
- Surjan Singh, a former Credit Suisse banker, along with others involved in the 'tuna bond scandal'.
- What
- Surjan Singh avoided prison after cooperating in a $2 billion fraud and money-laundering scheme.
- When
- Wednesday
- Where
- Brooklyn, New York
- Why
- Singh's cooperation with the government, including his testimony, led the judge to avoid imposing a prison term.
- Defendant
- Surjan Singh
- Charge
- Involved in a $2 billion fraud and money-laundering scheme
- Cooperation
- Testified in two US trials
- Sentence
- No prison term
- Location of Trials
- Brooklyn, New York
- Scandal Name
- Tuna bond scandal
- Key Figure Convicted
- Manuel Chang