08/02/2018 • Bloomberg

Swiss Banker Verdict May Be Just the Beginning for Credit Suisse

A verdict Friday in a Geneva court may bring some closure to the former Credit Suisse Group AG banker who has been in jail for two years before his trial on fraud charges even began. For the Swiss bank, the headache may linger for years.

The verdict isn’t in doubt as Patrice Lescaudron confessed on the first day of the trial last month to diverting money from client accounts to cover trading losses. The questions for the three-judge panel is how long he has to serve in prison and what to do with the tens of millions of dollars that he took.

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