Bank image: Credit Suisse Twitter.

Here’s another fascinating look — through a recent US indictment — at the looting of Africa.

This one involves alleged fraud tied to $2 billion in loans to state-owned companies in Mozambique, one of the world’s most indebted nations. Among the charges: conspiracy to violate U.S. anti-bribery law and to commit money laundering and securities fraud.

In London last week, three former Credit Suisse Group AG bankers were arrested, while in South Africa Mozambique’s ex-Finance Minister was detained, all in connection with the case, Reuters reports. The conspiracy allegedly leads to an Abu Dhabi holding company, a Russian lender, and three Mozambican state-owned firms that acted as fronts to siphon off the money.

Those state-owned companies are now reportedly bankrupt after defaulting on over $700 million in loan payments.