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.

Bloomberg News reports that Ivanishvili, an ex-prime minister of the former Soviet republic, filed the claims in Auckland at the New Zealand High Court on August 7, then in Bermuda 10 days later and in Singapore on August 25, court documents show.