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.

Prosecutors cannot release the wealth manager’s name under Swiss law, but reports in the Wall Street Journal, Financial Times and Georgia Today have identified him as Patrice Lescaudron.