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.

The past two weeks, Patrice Lescaudron, a 54-year-old ex-Credit Suisse private banker, has stood trial on charges of fraud, forgery of document and corporate fraud in Geneva. The Frenchman stands accused of cheating Bidzina Ivanishvili, an oil magnate and former prime minister of Georgia, out of more than 100 million Swiss francs.