05/09/2022 • Reuters

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.

Ivanishvili has accused Credit Suisse Trust Ltd in Singapore of failing to safeguard his investments and “take the appropriate steps” to prevent losses linked to fraud committed by its former Geneva-based banker Patrice Lescaudron.

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