The Financial Conduct Authority (FCA) has banned Detelina Subeva from the UK financial services industry, finding that she lacks integrity following her US conviction for conspiracy to commit money laundering connected to corrupt loans arranged for the Republic of Mozambique. Ms Subeva pleaded guilty in the US on 20 May 2019 for her role in the conspiracy, which included accepting and retaining USD 200,000 in unlawful kickbacks linked to the loans. She is the third former Credit Suisse employee banned by the FCA in relation to the case, after Andrew Pearse and Surjan Singh were banned in February 2025 following their US convictions; together they accepted over USD 50 million in kickbacks. In October 2021, the FCA fined Credit Suisse GBP 145 million as part of a USD 475 million global settlement for serious financial crime due diligence failings related to the USD 1.3 billion loans and secured an agreement for Credit Suisse to write off USD 200 million of Mozambican debt.
Financial Conduct Authority 2025-05-22
Financial Conduct Authority bans Detelina Subeva from UK financial services over Mozambique loans kickback conviction
The Financial Conduct Authority (FCA) has banned Detelina Subeva from the UK financial services industry due to her lack of integrity following a US conviction for conspiracy to commit money laundering related to corrupt loans for Mozambique. Subeva, who pleaded guilty in 2019, is the third former Credit Suisse employee banned by the FCA, following Andrew Pearse and Surjan Singh. In 2021, the FCA fined Credit Suisse GBP 145 million as part of a USD 475 million global settlement for related financial crime due diligence failings.