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Former Georgian Prime Minister Bidzina Ivanishvili Sues Credit Suisse for $1 Billion Loss

Former Georgian Prime Minister Bidzina Ivanishvili Sues Credit Suisse for $1 Billion Loss

Ex Georgian Prime Minister Bidzina Ivanishvili sued Credit Suisse in Singapore, New Zealand and Bermuda, claiming the bank's fraudulent mismanagement caused him investment losses and led to him losing $1 billion.
The bank was ordered to pay $926 million to Ivanishvili by a Singapore court, which ruled that Credit Suisse failed in its duty to safeguard his assets from fraudulent transactions by his relationship manager Patrice Lescaudron.

Credit Suisse claimed the decision was wrong and posed significant legal issues and said it would appeal.
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