A third former Credit Suisse Group AG banker has pleaded guilty to money laundering in a U.S. case related to Mozambique's hidden debts scandal, Mozambique News Agency reported, citing Portuguese news agency Lusa.

Surjan Singh appeared before a New York court Sept. 13 and pleaded guilty to one count of conspiracy to commit money laundering, while other charges of securities and wire fraud were dropped, according to the report.

Singh joins two other former executives at the Swiss lender — Detelina Subeva and Andrew Pearse — who also entered guilty pleas earlier in 2019, the report noted. The case centers on the granting of some $2 billion in loans to three state-owned Mozambican companies in 2013 and 2014.

U.S. prosecutors in January charged the three former Credit Suisse bankers and Mozambique's former Finance Minister Manuel Chang with alleged fraud and money laundering in relation to the scandal. According to the indictment, Chang and the bankers "created the maritime projects as fronts to enrich themselves and intentionally diverted portions of the loan proceeds" for bribes and kickbacks of roughly $200 million. Mozambique borrowed the money from international investors in 2013, when Chang was finance minister, to finance maritime projects.