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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 11th December 2019, CS Victims published full page advertisements in The Times and Daily Telegraph, detailing an open letter to Thijane Thiam, the CEO of Credit Suisse AG, on the day of the Bank’s Investor Day. The letter can be viewed here.

This is in addition to the open letter to the Board of Directors of Credit Suisse AG on the day of the Bank’s AGM on 26th April 2019. 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.

Latest news
23/07
Bloomberg
23/07/2020 • Bloomberg

Credit Suisse Faces New Suit in Singapore Over Rogue Trader

Bidzina Ivanishvili, the biggest victim of a rogue trader at Credit Suisse Group AG, is suing one of the bank’s trusts in Singapore for at least $300 million, opening a fresh front in the long-running dispute.

Read More
11/07/2020 • The Straits Times

Ex-Georgian PM’s suit to be heard here, not Geneva, rules court

Singapore’s Court of Appeal has allowed the lawsuit of former Georgian prime minister Bidzina Ivanishvili, against a trustee linked to a major Swiss bank, to be heard in Singapore instead of Geneva.

17/03/2020 • Seeking Alpha

US Prosecutors Believe Credit Suisse Can Be Held Criminally Liable For Employee Crimes, Reuters Reports

A $2 billion corruption case in Mozambique may have far reaching implications for Credit Suisse Group. The case is related to loans devised by Credit Suisse from 2013-2016 to help develop Mozambique’s coastal defenses, shipping fleet, and fishing industry.