(Bloomberg) — Bidzina Ivanishvili, the Georgian billionaire suing a unit of Credit Suisse Group AG over a fraud scheme run by one of its ex-bankers, lost about $607 million in the case, according to a new estimate of his losses that’s nearly 10% higher than a previous figure in a March ruling.
The new amount was cited during a hearing Tuesday overseen by Bermuda Supreme Court Chief Justice Narinder Hargun after he told forensic accountants in March on both sides of the case to go away and come up with a more accurate assessment of Ivanishvili’s losses. Hargun put the losses at $553 million three months ago.
At the time, the judge criticized Credit Suisse Life, saying the bank’s life insurance unit had turned a “blind eye” to convicted fraudster Patrice Lescaudron’s wrongdoing. The Frenchman, who was convicted in 2018, was a lone wolf who hid his fraudulent activity, according to the bank.
www.bnnbloomberg.ca/credit-suisse-client-losses-climb-to-607-million-in-fraud-case-1.1781797
- PEDOPHILES ARE OFFICIALLY A PROTECTED CLASS IN AMERICA NOW
- Armstrong: Prepare for WWIII: The West NEEDS war because the entire financial system is collapsing
- Congressman Jim Jordan gets Debbie Birx to admit the truth…
- Fed throws Biden under the bus, says hes collapsing the country
- Comedian Alex Stein Trolls Leftist Protesters Outside His NYC Comedy Show
- A Major Prophetic Voice Is Warning That Food Confiscation Will Happen In America When Shortages Get Really Severe
- Dr. Geert Vanden Bossche forecasts total chaos within 2 months.
- Why Are They Still Pushing the Global Warming Hoax When We Have Real Problems to Take Care Of?
- Biden Admin Reportedly Losing Faith in the Ukraine Victory Plan
- This is What Happened in Kremenchug
Views: 36