Iskandar Safa the Franco-Lebanese entrepreneur at the centre of the US$2 billion 'hidden loans' scandal that impoverished Mozambique and drew top state officials and Frente de Libertação de Moçambique (Frelimo) leaders into a web of corruption died at home in France on 29 January aged 68...

Maputo has been suing Lebanese businessman Iskandar Safa's Privinvest Credit Suisse bank and the three CS bankers who admitted fraud and money-laundering in a US court last year...

Star prosecution witness Andrew Pearse the Credit Suisse banker who admitted his guilt in a plea bargain on 19 July to wire fraud conspiracy and receiving tens of millions of dollars 'knowing they were the proceeds of illegal activity' testified that Boustani and Privinvest CEO Iskandar Safa secured lucrative maritime deals with bribes and kickbacks funded by debt bought by US investors (AC Vol 60 No 16 Guilty plea on conspiracy & Vol 60 No 21 Tuna bonds in Brooklyn)...

According to sources close to Ndambi he spent some of 2013 living in the house of Privinvest owner and CEO Iskandar Safa in Nice...

Pearse also named as central to the affair Iskandar Safa the founder owner and CEO of Privinvest which was paid directly by Credit Suisse and VTB bank for the maritime security contracts purchased with the loan money (AC Vol 60 No 2 US spears the loan sharks)...

Navigating Mozambique's financial waters The VTB bankers and those formerly with Credit Suisse who made the US$2 billion secret loans to Mozambique are closely tied to the Privinvest group of companies which is owned by Lebanese shipping magnate Iskandar Safa who is said to enjoy close friendships among the elites in France Lebanon the United Arab Emirates and Saudi Arabia (See Graphic Mozambique's boats and loans)...

Privinvest's CEO is Iskandar Safa a controversial businessman with strong political influence in France and the Gulf (AC Vol 58 No 3 Naval deal under spotlight)...

Another name that stands out on the list of payments to third parties is Palomar a company owned by Privinvest Group Iskandar Safa's parent company for his various interests in shipbuilding and naval sales...

Privinvest's chief executive officer Lebanese businessman Iskandar Safa has strong links with France and CMN is a French subsidiary of Privinvest...