Former Credit Suisse Executive Lara Warner May Face Court Again Over Mozambique Scandal

Lara Warner, once a powerful figure in Swiss finance as Credit Suisse's chief risk officer, could soon find herself back in court. The Swiss Finance Department has filed a complaint with the Federal Criminal Court in Bellinzona, challenging the earlier dismissal of proceedings against her concerning the Mozambique scandal.

The affair dates back to 2013 when Credit Suisse bankers helped Mozambique arrange loans totaling approximately $2 billion. The funds were intended for a tuna fishing fleet, shipyard construction, and coastal surveillance, but instead largely disappeared into corrupt channels, plunging the country into an economic crisis from which it has yet to recover.

Warner, an American, is among several individuals accused in the case. Swiss authorities allege that in her role as top risk manager, she failed to report a suspicious payment of around $7.8 million to the Money Laundering Reporting Office (MROS) in a timely manner. This payment, made in March 2016 to a CS account, saw approximately $7 million transferred to the United Arab Emirates just days later. The bank did not report the questionable transaction until three years later, by which time a U.S. Justice Department investigation into Credit Suisse's lending practices in Mozambique was already underway.

In March 2025, the Finance Department had imposed a fine of 100,000 Swiss francs on Warner for the delayed reporting. She contested this penalty, seeking a judicial review. Warner, who was part of the inner circle of former bank CEO Tidjane Thiam, joined Credit Suisse in the early 2000s and rose through the ranks. She has not responded to requests for comment from NZZ.