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’s Bermuda Fears Come True
After flagging a possible legal hit several days ago from a court ruling in Bermuda over damages linked to ex-Georgian Prime Minister Bidzina Ivanishvili, Credit Suisse’s fears came true yesterday with the bill totaling more than $500 million.
Georgian billionaire claims victory over Credit Suisse
A damning “indictment” of the business dealings of Credit Suisse bank follows a Supreme Court judgment in which more than half a billion dollars were at stake and where the court found fraud in policy accounts that the bank’s Bermuda subsidiary held for former Georgian leader and billionaire Bidzina Ivanishvili.
Credit Suisse Ignored Signs Banker Was Bilking Billionaire Client, Judge Says
Bermuda court orders the bank to pay $555 million in damages to former Georgia Prime Minister Bidzina Ivanishvili. A Bermuda court said Credit Suisse Group AG must pay billionaire Bidzina Ivanishvili about $555 million for allowing a private banker to steal from the former Georgia prime minister and mismanage his money.