Business Standard

Surjan Singh, ex-banker whose bromance soured after million dollar bribes

Surjan Singh is one of three former Credit Suisse bankers who have pleaded guilty to taking millions of dollars in bribes to arrange loans for maritime projects in Mozambique.

Surjan Singh
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Surjan Singh, former managing director at Credit Suisse Group AG, leaves a London court on March 8, 2019. Photo: Bloomberg

Patricia Hurtado | Bloomberg
A former Credit Suisse Group AG banker told a jury in New York that a shipbuilding executive who once called him a brother ended up threatening him when money from the bank stopped flowing.

Surjan Singh is one of three former Credit Suisse bankers who have pleaded guilty to taking millions of dollars in bribes from Privinvest Group executive Jean Boustani. Boustani, who’s accused of defrauding investors, denies wrongdoing.

Singh testified Wednesday he was paid $5.7 million to help arrange two of three loans for maritime projects in Mozambique contracted to Privinest -- all part of an alleged $2 billion scam. Singh’s

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