Geneva — Credit Suisse Group was put on the defensive on the first day of the criminal trial of a former banker accused of taking millions from customer accounts as his victims demanded more information on what the lender did and did not do to rein in unauthorised trades. The victims of former private wealth banker Patrice Lescaudron wasted little time in trying to make the case about Credit Suisse as injured parties are full participants at Swiss trials. Giorgio Campa, a lawyer for two Russian businessmen who he says lost Sf32m, asked the court to force the bank to turn over any exchanges with US regulators related to Lescaudron’s money-losing trades on Raptor Pharmaceutical Corporation. Lescaudron, 54, has already admitted making unauthorised trades over six years to hide growing losses. While Credit Suisse has repeatedly said it knew nothing of his deception, lawyers for his Eastern European clients — including former Georgian Prime Minister Bidzina Ivanishvili — say investigator...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.