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 crimes are currently being investigated by the Geneva prosecutor who has recently called other Credit Suisse employees to explain their actions.
On 29th March 2022, the Supreme Court of Bermuda ruled against Credit Suisse Life (Bermuda) Limited, a wholly owned subsidiary of Credit Suisse AG, finding it responsible for breach of contract, breach of fiduciary duty and fraudulent misrepresentation. The Court awarded more than $550m in damages to the affected policyholders.
The landmark Judgement represents the first time Credit Suisse has been held accountable for the crimes and failures which led to client losses of more than $1 billion. The Chief Justice found in favour of the Policyholders on every point of substance and the awarded damages have been calculated on the highest basis possible. The case generated significant media interest and a selection of the press coverage 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 Woes Spread to Singapore With $800 Million Trial
Credit Suisse Group AG’s legal battle with billionaire client Bidzina Ivanishvili has spread to Singapore as the Georgian gears up for trial with a unit of the Swiss lender over what he claims are $800 million in losses tied to a rogue banker.
Urteil auf den Bahamas: Der Fall Ivanishvili kommt die Credit Suisse teuer zu stehen
Im Prozess um den Ex-Regierungschef von Georgien soll die CS über 600 Millionen Dollar zahlen – das hat ein Gericht auf den Bahamas entschieden.
Bermuda Claims Against Credit Suisse Now More Precisely Defined
The estimates of the losses suffered by a Georgian billionaire in a Bermuda fraud case have now been more precisely quantified.