Ex-Credit Suisse Banker in Tuna Bond Scandal Avoids Prison (2)

A former Credit Suisse Group banker who pleaded guilty to engaging in a $2 billion fraud and money-laundering scheme in Mozambique avoided a prison term after serving as the government’s star witness at two US trials.

Andrew Pearse was sentenced on Thursday in federal court in Brooklyn, New York, over what became known as the tuna bond scandal for its dubious maritime projects including a fishing fleet. He was sentenced to time served, referring to the brief period when he was in the government’s custody, and has agreed to make millions of dollars in payments and forfeitures.

“I hope one ...