The former Credit Suisse banker who recently was released after serving part of a prison sentence in Switzerland faces a new investigation into earlier misdeeds.
Patrice Lescaudron, a French citizen who used to manage accounts of super-rich Russian clients of Credit Suisse, is at the center of yet another probe launched by the prosecutor’s office in Geneva, Switzerland, according to news wire «Bloomberg». Lescaudron in November had been released after serving ten months of a five-year prison sentence.
The court of appeal is currently looking into his earlier conviction. Lescaudron was sentenced for operating a scheme that allowed him to make unauthorized trades and for falsifying purchase orders to cover up mounting losses in client portfolios. He was sentenced in February of 2018.
Oligarchs Don't Give Up
The new probe focuses on an alleged forgery of bank statement for Russian clients between 2009 and 2011, «Bloomberg» reported. These activities weren’t part of the earlier trial of Lescaudron.
While the lawyers of the clients who lost assets due to Lescaudron’s actions claim that Credit Suisse neglected their duties to supervise the banker, the bank consistently argued that the Frenchman acted as a lone wolf. By bringing the new case, the Russian citizens again try to get the Swiss No. 2 bank into the frame to allow them get compensation.
Credit Suisse Reaction
Credit Suisse told «Bloomberg» that there were no indications that other members of staff had been involved in forging the bank statements.
