CS Victims’ situation has been widely reported in the media, please see below for a selection of stories.
Credit Suisse Collapsed, And Switzerland Went Back to Making Money
Despite widespread calls for reform in the wake of the country’s biggest banking shock, little has changed. Is that stability or complacency?
Credit Suisse Money-Laundering Case Faces Ax in Boost to UBS
UBS Group AG is set to dodge one of the long list of legal problems it inherited from its takeover of Credit Suisse, as Geneva’s top financial-crimes prosecutor prepares to shut down a money-laundering probe targeting the failed bank.
Credit Suisse to appeal Bermuda court ruling against Georgia’s former PM
A Bermuda appeals court on Friday largely dismissed Credit Suisse’s appeal in an ongoing case involving the Swiss bank’s local life insurance arm and Georgia’s former Prime Minister Bidzina Ivanishvili.
Credit Suisse ordered to pay $926mn to former prime minister of Georgia
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Billionaire Georgian Wins Case Against Credit Suisse
A Credit Suisse Group AG unit was ordered to pay Georgian billionaire Bidzina Ivanishvili what is set be hundreds of millions of dollars by a Singapore court, in yet another blow for the bank in the long-running legal saga. Jan-Patrick Barnert reports on Bloomberg Television.
Credit Suisse ordered to pay $926 million to Georgia’s former prime minister
Credit Suisse was ordered to pay $926 million to Georgia’s former prime minister Friday for losing part of his fortune, in a Singapore court ruling that represents one of the biggest legal awards made against the bank.
UBS Inherits Legacy of Legal Headaches From Credit Suisse
When UBS Group AG integrates Credit Suisse Group AG in the coming months, the Swiss bank plans to run staff from the scandal-prone former rival through what Chairman Colm Kelleher dubbed a “culture filter” to weed out potential bad apples.
CS Victims: former Prime Minister of Georgia, Bidzina Ivanishvili, alleges political pressure in legal dispute with Credit Suisse
The case of the former Prime Minister of Georgia, Bidzina Ivanishvili, who has been engaged in ongoing legal disputes against Credit Suisse and its subsidiaries for over seven years has received widespread media coverage, including in Switzerland where the fraud and mismanagement were committed by the convicted Relationship Manager.
Court of Appeal to entertain final submissions in Credit Suisse case
After five days of hearings last week, the Court of Appeals will entertain final written submissions in an appeal of a lawsuit that saw a unit of Credit Suisse end up on the wrong side of a $600 million judgment in the Supreme Court.
Credit Suisse Fights $600 Million Damages Award Over Mishandling of Rogue Banker
The lawyer for a Credit Suisse Group AG unit fighting a $600 million damages award over its mishandling of a former star banker turned fraudster suggested the size of the ruling exaggerates what the returns would have been if the money had been invested properly.
Credit Suisse Trust in Singapore trial admits it failed to flag rogue transfers
A Credit Suisse Group trust admitted it failed to let its billionaire client know about unauthorised transfers from his accounts, in an unexpected move that may shape the outcome of a trial in Singapore over the unit’s potential liability for losses tied to a rogue banker.
Credit Suisse-tycoon clash has wealth industry holding its breath
GEORGIAN billionaire Bidzina Ivanishvili’s US$800 million lawsuit against a trust firm owned by Credit Suisse Group is set to become a test case for the global industry handling billions in assets for wealthy families.
Credit Suisse Fraudster’s Statements Weren’t Just ‘Human Errors,’ Adviser Testifies
An adviser to the billionaire suing a Credit Suisse trust for $800 million in damages told a Singapore court that the disgraced banker who defrauded his boss made mistakes in the portfolio statements that clearly went beyond just “human errors.”
Credit Suisse court battle with billionaire kicks off in Singapore
Credit Suisse Group’s next legal battle unfolds in Asia on Monday as a local subsidiary stands trial in Singapore accused by a billionaire client of negligence that he says cost him as much as US$800 million (S$1.12 billion).
Ex-Georgia PM blames Credit Suisse unit for $1.27 bln losses in Singapore case
Georgia’s former prime minister Bidzina Ivanishvili alleged on Monday a trust unit of Credit Suisse (CSGN.S) had failed to take steps to prevent him from losing $1.27 billion, as a Singapore court started to hear evidence in the case.
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.
Swiss Prosecutor Traces Laundering Trail to Credit Suisse
$60 million of funds potentially laundered through Credit Suisse has been reportedly identified by a Swiss prosecutor.
Credit Suisse sees $600 million hit from Bermuda court case
Credit Suisse expects a Bermuda court case to cost the group about $600 million, the Swiss bank said in its first-quarter financial report on Thursday, also spelling out risks from Russia sanctions and China’s economic slowdown.
Credit Suisse issues profit warning caused by jump in legal costs
The bank, beset by a string of controversies, has put aside an extra 600m Swiss francs for unspecified cases.
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.
Credit Suisse faces $500 mln plus bill after ex-Georgian PM wins court case
A Bermuda court on Tuesday ruled former Georgian Prime Minister Bidzina Ivanishvili and his family are due damages “substantially in excess of $500 million” from Credit Suisse’s local life insurance arm in a costly setback for the bank.
Credit Suisse Warns of $500 Million Hit From Billionaire’s Lawsuit
Swiss bank had said a rogue banker was responsible for Georgian billionaire Bidzina Ivanishvili’s losses. Credit Suisse Group AG is expected to pay around $500 million after losing a lawsuit brought by a Georgian billionaire who claimed the bank mismanaged his money.
Credit Suisse loses case over banker who stole from billionaire clients
Bank could be forced to pay more than $500mn in lawsuit brought by Georgia’s ex-prime minister.
Credit Suisse Draws Billionaire’s Scorn for ‘Shocking’ Treatment
A Georgian billionaire pursuing Credit Suisse Group AG across the world for hundreds of millions of dollars he lost to fraud said his treatment by the bank was worse than anything he saw in the freewheeling days of finance in post-Soviet Russia.
Credit Suisse trial may lift lid on banker’s fraud scheme
An offshore unit of Credit Suisse Group AG goes to court Monday in a case that could lift the lid on how a rogue Geneva employee got away with defrauding some of the firm’s richest clients for nearly a decade.
Credit Suisse Legal Woes Weigh on Revamp Plan
Even before the twin disasters of Archegos and Greensill, the scandal-prone bank was among the world’s most heavily fined.
Credit Suisse n’a rien vu: une gérante genevoise cause 60 millions de pertes
Ce n’est pas une, ni deux, ni trois, mais quatre affaires de fraude qui ont gravement touché des clients de Credit Suisse dans le courant des années 2010.
Le procureur Bertossa tancé par la Cour de justice dans l’affaire Lescaudron
Agacées par son manque d’ardeur à enquêter sur l’éventuelle responsabilité pénale de Credit Suisse dans la fraude commise par son ancien gérant Patrice Lescaudron, des victimes ont demandé la récusation du premier procureur Yves Bertossa.
Credit Suisse: Entgleisungen eigenmächtiger Banker
Die Credit Suisse ist auch wegen eigenmächtigen Bankern in die heutige Bredouille geraten. Drei Fälle dokumentieren diese Entgleisungen ganz genau – und zeigen, wie dringen ein Kulturwandel bei der Grossbank ist.
Antonio Horta-Osorio’s First 100 Days
Victims of $1bn Credit Suisse fraud make open offer to new Chairman.
Georgischer Ex-Premierminister droht Credit Suisse mit Klage in den USA
Der Oligarch fordert Hunderte Millionen Dollar von der Schweizer Bank – und könnte das Institut nun in den Vereinigten Staaten attackieren.
Nicht jeder Fehler bedeutet das Ende der Karriere: Die Credit Suisse und der Fall Lescaudron
Im Nachgang der Lescaudron-Affäre hat die Credit Suisse Arbeitskollegen und Vorgesetzte des betrügerischen Beraters mit Sanktionen belegt. Das hat ihre berufliche Karriere bei der Bank aber nicht beendet.
Credit Suisse: ”Jetzt reicht es wirklich”
Ein in Deutschland bisher unbekannter Geheimbericht enthüllt schwere Mängel bei der Schweizer Großbank Credit Suisse. Ist das für den kommenden BaFin-Chef Mark Branson ein Problem?
Darum hören die Skandale bei der Credit Suisse nicht auf
Die CS versinkt in Skandalen. Dahinter steckt System. Das zeigt ein massiver Betrugsfall aus der Ära Rohner, dessen Dimensionen erst jetzt klar werden.
Betrugsaffäre in Genf: Diesen Report fürchtet die Credit Suisse
Der Betrugsfall ist einer der grössten im Schweizer Banking. Hat das Risikomanagement der Bank versagt? Ein vertraulicher Bericht der Aufsichtsbehörde gibt brisante Antworten.
Credit Suisse Sues Billionaire Over Rogue-Banker Report
Credit Suisse Group AG is suing a Georgian billionaire and his communications adviser over their decision to publish a copy of a report from Switzerland’s banking regulator on its handling of a former banker convicted of fraud.
Kultur des Wegschauens bei der CS, wenn hohe Erträge winken
Nicht nur im Investmentbanking, auch in der Vermögensverwaltung wurden bei der Grossbank Credit Suisse Risiken ignoriert.
CS Victims Demand Return of Stolen Funds As Credit Suisse Face a Plethora of Scandals
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, have demanded the immediate return of funds stolen by the Bank.
Credit Suisse turned blind eye as top banker stole from billionaire clients
Credit Suisse ignored brazen compliance violations by one of its top bankers for years, as he stole from billionaire clients and flouted anti-money laundering directives, a leaked regulatory report reveals.
CS Victims Laud Fraud Report Findings And Demand Credit Suisse Return Client Funds
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, today lauded the findings of a report into how the Bank failed to prevent and uncover crimes by one of its former star bankers, Patrice Lescaudron.
Credit Suisse Was Alerted to Private Banker’s Misconduct Years Before Criminal Charges
Regulatory report says some executives turned a blind eye to fraud. Credit Suisse says it revealed nothing incriminating against the bank.
Credit Suisse Wins Bid to Keep Fraud Report Secret
Credit Suisse Group AG won a bid to stall the release of a report into how it failed to prevent fraud and money laundering by one of its former star bankers, Patrice Lescaudron.
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.
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.
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.
CS Victims: Credit Suisse earnings call overshadowed by analysts’ litigation concerns
Following his surprise resignation last week, Tidjane Thiam’s last earnings announcement as Chief Executive Officer was dominated by questions about litigation as worried analysts questioned Credit Suisse’s provisions to settle ongoing actions against the Bank, including those brought by clients of CS Victims, a group of clients who were victims of an estimated $1 billion fraud perpetrated by the Bank’s personnel over seven years.
Bermuda Court Orders Credit Suisse to Provide Information Relating to $1 Billion Fraud
This month, the Supreme Court of Bermuda ruled that Credit Suisse Life, the Bermuda insurance division of Credit Suisse, must hand over documents to victims that the bank had thus far attempted to shield from its own clients. The ruling follows a similar decision by a federal court in New York.
Credit Suisse faces fresh embarrassment as fraud victims demand answers again
Credit Suisse faces fresh embarrassment at its investor day on Wednesday as victims of an alleged $150m (£113m) fraud demand answers again.
Credit Suisse Blocks Prosecutor Using Critical Finma Report
Credit Suisse Group AG has acted to block Geneva prosecutors from using details of a critical report by the country’s financial regulator into the bank’s failure to prevent fraud at its wealth management unit.
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.
Ex-Prime Minister Of Georgia Demands $53M From Credit Suisse Fraud Case
The former Prime Minister of Georgia is demanding $53 Million from Credit Suisse as compensation for losses in a fraud perpetrated by Credit Suisse advisor Patrice Lescaudron from 2009-2015.
Video: ‘The battle has started’: Ex-Credit Suisse banker’s fraud victims still want an apology
Patrice Lescaudron, a French banker who worked in Credit Suisse’s Russia, Ukraine and Central Asia department, was sentenced to five years in prison for running an eight-year scheme in which he made unauthorized trades and moved assets between clients’ accounts.
‘The battle has started’: Ex-Credit Suisse banker’s fraud victims still want an apology
It was December 30, 2015, and Russian businesswoman Olga Kurbatova, who founded a successful Moscow-based beverage company called Happyland Corp, was celebrating the New Year with her son when she got an unexpected phone call from the bank that managed her fortune, Credit Suisse.
Credit Suisse Refuses to Return Funds Stolen in $1 Billion Fraud
Despite assurances to a Geneva Court, Credit Suisse has thus far refused to return funds stolen from clients during a near $1 billion years-long fraud executed by one of its own employees, who has already been convicted by a criminal court, CS Victims, a group of clients who are the victims of crimes, announced today.
Ex-Credit Suisse Fraudster’s Victims Turn to Newspaper Ad
Angry clients of Credit Suisse Group AG have filed lawsuits from New York to New Zealand to try to force the Swiss bank to disclose more details about a former employee who swindled them. Now they’re taking out a newspaper ad to publicize their case.
Fraud victims aim to shame Credit Suisse
Credit Suisse faced embarrassment on Friday as victims of a $150 million (£116 million) fraud by a rogue employee took a full-page ad in the FT to demand answers and their money back.
Judge Allows Russian Soda Mogul to Try and Build Case Against Credit Suisse
A court recently signed off on an agreement that will allow a Russian soft drink mogul, who claims she was bilked out of $35 million by an unscrupulous Swiss banker, to seek evidence to support a potential case against the bank.
Credit Suisse Client Says She Lost $50 Million in Banker’s Fraud
A Russian client of convicted former Credit Suisse Group AG wealth manager Patrice Lescaudron lashed out at the lender for putting itself before clients and accused Swiss prosecutors of rushing their indictment.
Ex-Credit Suisse Banker Fraud Case Still a `Five-Headed Hydra’
A new probe in the case of a convicted Credit Suisse Group AG banker gave victims of Patrice Lescaudron fresh ammunition to argue for yet another exhaustive investigation of the four-year-old scandal.
Ex-Credit Suisse Banker Faces Fresh Forgery Probe in Geneva
Geneva prosecutors have opened a fresh investigation into alleged forgery by former Credit Suisse Group AG banker Patrice Lescaudron, six weeks after his release from prison.
Ex-Credit Suisse Banker Released From Jail
A former wealth manager of Credit Suisse was released from prison, having served less than a fifth of his five-year prison sentence he was convicted to a year ago for operating a fraud scheme.
Credit Suisse said suspected by Geneva prosecutors of systematically neglecting basic compliance rules
A Credit Suisse unit is suspected by Geneva prosecutors of systematically neglecting basic compliance rules and failing to prevent alleged money-laundering by a Turkish asset manager it worked with.
Credit Suisse Suspected of Failings in Wealth-Manager Probe
A Credit Suisse Group AG unit is suspected by Geneva prosecutors of systematically neglecting basic compliance rules and failing to prevent alleged money-laundering by a Turkish asset manager it worked with.
Credit Suisse Faces Geneva Probe Tied to Former Bankers
Geneva prosecutors are investigating whether a Credit Suisse Group AG unit failed to stop money laundering in a widening fraud case tied to a defunct asset manager, according to people familiar with the probe.
Credit Suisse Rogue Banker’s Victims Take Fight to New York
The victims of convicted Credit Suisse Group AG fraudster Patrice Lescaudron are taking their fight to New York.
Credit Suisse muss nachsitzen
Zwei Aufsichtsverfahren im Bereich Geldwäschereibekämpfung enden für die Schweizer Grossbank glimpflich. Im Fokus stand unter anderem ein fehlbarer Kundenberater, der trotz Veruntreuung honoriert wurde.
Credit Suisse / Finma : the usual suspects
Who could ever have suspected it? Weak money-laundering defences at a Swiss bank, of all places. And in relation to Fifa and Petrobras, those beacons of moral probity. Thank heavens regulator Finma has shown how seriously Switzerland regards lapses at Credit Suisse. It has issued a press release.
Swiss Regulator Slams Credit Suisse Over Compliance Failures
Credit Suisse AG was deficient in its anti-money laundering compliance processes.
Credit Suisse Scolded for Failing to Rein in Rogue Banker
Credit Suisse Group AG was scolded by Switzerland’s financial regulator for its failure to properly oversee a former star wealth manager convicted of fraud, escaping any real penalties for its compliance shortcomings.
Credit Suisse hat gegen Vorschriften zur Bekämpfung der Geldwäsche verstoßen
Die Schweizer Großbank hat über Jahre hinweg fragwürdige Kunden angenommen und nicht genau genug hingeschaut. Jetzt gelobt die Credit Suisse Besserung.
Credit Suisse Pick That Went Sour Ends Up in Banker Appeal
Five months after Patrice Lescaudron was convicted in one of Switzerland’s biggest white-collar crime cases, an appeals court has put the spotlight back onto the former Credit Suisse Group AG banker.
Credit Suisse Gives Rogue Banker Unlikely Boost in Geneva Appeal
Five months after a former Credit Suisse Group AG banker was convicted of orchestrating a near decade-long scheme to hide growing losses from his clients, the financier has got an unlikely boost from his one-time employer.
Ex-Credit Suisse star gets five years in jail
Former Credit Suisse wealth manager Patrice Lescaudron was sentenced to five years in prison by a Geneva court on Friday for abusing the trust of clients and creating a fraudulent scheme that made him tens of millions of Swiss francs.
The Key Players in Trial of Ex-Credit Suisse ‘Star’ Banker
A former top Credit Suisse wealth manager was found guilty of defrauding his eastern European clients by a Swiss court on Friday and sentenced to five years in prison. Here’s what you should know about Patrice Lescaudron, as well as the prosecutor who led a two-year investigation into his crimes, the trial judge and his principal accusers.
Former Credit Suisse ‘star’ gets five-year jail term for ‘clever fraud’
Former Credit Suisse client adviser Patrice Lescaudron was sentenced to five years imprisonment by a Geneva court on Friday for abusing the trust of clients and putting in place a fraudulent scheme that brought him tens of millions of francs.
Credit Suisse Faces Russian Flood
A Geneva court is poised to convict a former Credit Suisse banker over dealings with a billionaire ex-prime minister of Georgia. The move opens the floodgates for Russian claimants to seek remands from the Swiss bank.
Swiss Banker Verdict May Be Just the Beginning for Credit Suisse
A verdict Friday in a Geneva court may bring some closure to the former Credit Suisse Group AG banker who has been in jail for two years before his trial on fraud charges even began. For the Swiss bank, the headache may linger for years.
The plaintiffs are mainly suing Credit Suisse
A l’heure des plaidoiries, les avocats ont souligné l’arrogance de la grande banque, son mépris de la clientèle et l’absence de toute surveillance du gestionnaire félon qui manipulait des sommes colossales
Tears, Lies and Fake Excel Files at Ex-Credit Suisse Banker’s Trial
Patrice Lescaudron, the former Credit Suisse Group AG banker on trial for taking money from the accounts of wealthy clients, found phony Excel spreadsheets were the easiest way to keep customers in the dark about the fraud in their accounts.
Serial tricks of the former star of Credit Suisse
Au procès, le supérieur direct du prévenu se retranche derrière un rôle purement logistique. Il ne comprend pas comment les malversations ont passé les contrôles et pourquoi l’audit interne ciblé sur ce desk russe n’a rien décelé
Ex-Credit Suisse Banker Says His Fraud Brought Health Concerns
A former Credit Suisse Group AG banker, accused of taking millions from rich clients’ accounts to cover trading losses, told the court on a long first day of his trial in Geneva that stress from the financial crisis and his growing losses took a great toll on his health.
Credit Suisse: Nail-Biter in Geneva
Credit Suisse is bracing for a tough couple of days in Geneva, where a former banker is standing trial for embezzlement. The claimants are rich Eastern European clients eager to retrieve assets they kept at the Swiss banking giant.
A former Credit Suisse star is judged to have embezzled 150 million francs
Le procès d’un ancien gestionnaire du Credit Suisse s’est ouvert lundi devant le Tribunal correctionnel de Genève. Le prévenu est accusé d’avoir détourné des dizaines de millions de francs.
Rogue Credit Suisse Banker Goes on Trial Over Russian Shell Game
If it wasn’t for a bad bet on a small Californian company, the former Credit Suisse banker identified only as Mr. L until now might never have ended up in a jail cell just across Lake Geneva from his $2.4 million home.
Georgischer Ex-Premier zeigt CS an
Ein Ex-Credit-Suisse-Mann soll Millionen des georgischen Ex-Premiers Bidzina Ivanishvili verzockt haben. Dieser klagt nun die CS an. Der Prozess soll noch dieses Jahr beginnen.
Billionaire sues C Suisse
Georgian billionaire Bidzina Ivanishvili sued Credit Suisse in Singapore, New Zealand and Bermuda, alleging the bank must have known about the actions of a former employee who forged trades to cover losses from other customers’ accounts.
Ex-Georgia premier sues Credit Suisse in three countries over losses
Lawyers for former Georgia Prime Minister Bidzina Ivanishvili said on Tuesday they are suing Credit Suisse in Singapore, New Zealand and Bermuda, alleging failings at the bank led to fraudulent mismanagement and substantial losses.
Swiss prosecutor is said to probe Credit Suisse fraud allegation
Geneva prosecutors will examine whether Credit Suisse Group AG bears any criminal responsibility for alleged wrongdoing by one of its former wealth managers, according to four people familiar with the probe.
Swiss Fraud Probe May Expand to Include Credit Suisse Employees
Swiss prosecutors are pursuing emails and other documents that may lead them to expand a fraud investigation into a defunct Geneva-based asset manager to include Credit Suisse Group AG employees, people familiar with the case said.
Credit Suisse Accused in Multimillion Dollar Fraud, $15 Billion Money Laundering
Swiss prosecutors have charged an ex-Credit Suisse wealth manager with fraud, misappropriation and criminal mismanagement, Bloomberg reported. The bank also faces a money laundering probe in Italy, Reuters said.