Swiss Prosecutor Traces Laundering Trail to Credit Suisse
$60 million of funds potentially laundered through Credit Suisse has been reportedly identified by a Swiss prosecutor.
More challenges are on the horizon for Credit Suisse with top Genevan financial crime prosecutor Yves Bertossa having found $60 million he believes was laundered through the Swiss bank, according to a «Bloomberg» report citing a June 8 hearing.
At the meeting last week, Bertossa presented his case which included the identification of eight transactions that he alleges the bank let slide between 2008 and 2014, including transfers to a third-party account.
Patrice Lescaudron was named as the central player who faked signatures and created dummy portfolio statements in order to illegally transfer millions of dollars, mainly from ex-Georgian Prime Minister Bidzina Ivanishvili, to cover losses in other client portfolios – a move that would lead to his conviction and imprisonment in 2018 over fraud and forgery.
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