CS Victims has been established by the representatives of clients of Credit Suisse.
They are victims of an estimated $1billion fraud perpetrated by the Bank’s personnel. Over many years, client funds have been stolen and mismanaged and, to date, Credit Suisse has yet to explain how its personnel were able to bypass compliance and risk management or why better controls were not in place or adequate enough to stop them from doing what they did.
The clients’ own audit estimates that in their case Credit Suisse was paid more than $150m in commission as a direct result of the fraud and mismanagement of client funds.
Since the discovery of the fraud, at least one of Credit Suisse’s personnel has been convicted of embezzlement and FINMA has highlighted failures in Credit Suisse’s systems and controls which led directly to crimes being committed.
On 26th April 2019, CS Victims published a full page advertisement in the Financial Times, detailing an open letter to the Board of Directors of Credit Suisse AG on the day of the Bank’s AGM. The letter can be viewed here.
Current and potential customers should ask themselves: is my money safe with this Bank? If you believe that you have been affected in the same or a similar way or are concerned for any reason at all, please fill in the contact form here and we will respond.
Credit Suisse needs be held accountable for its failures and take responsibility for any and all wrongdoing by its personnel.
Credit Suisse Cheat Couldn’t Have Acted Alone, Billionaire Says
A former Credit Suisse Group AG banker was not the lone wolf the firm described when he was convicted of fraud, according to his main victim, Georgian billionaire Bidzina Ivanishvili.
CS Victims Again Demand Credit Suisse Return $150 Million in Illegal Fees Amidst Latest Scandal
Geneva – CS Victims, a group of Credit Suisse Wealth Management clients who are victims of an estimated $1 billion fraud perpetrated by the bank’s personnel, once again demanded that Credit Suisse management and its Board procure the return of commissions and fees – estimated at more than $ 150 million – paid to the Bank as a direct result of illegal activity which proper systems and controls should have prevented.
CS Victims announces defrauded clients demand return of $150 million of illegal fees from Credit Suisse
The fees paid to Credit Suisse during the fraud include significant amounts generated from management of the affected client accounts and investment in the Bank’s own products and funds.