21/11/2019 • Bloomberg

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.

Armed with falsified portfolio statements, Patrice Lescaudron and at least two other colleagues made multiple trips to the former Georgian prime minister’s villa in the countryside, two hours outside the capital Tbilisi, Ivanishvili said in an interview.

It’s the first time Ivanishvili, who had at least $800 million of his $5.4 billion fortune tied up with Credit Suisse, has discussed the case in public — and his comments are at odds with the bank’s insistence that Lescaudron acted alone and kept his colleagues in the dark.

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