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Georgian billionaire wins $926 million from Credit Suisse after fraud

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"Singapore's International Commercial Court said a unit of Credit Suisse had not acted in good faith and neglected to keep the assets of Bidzina Ivanishvili safe, in the latest blow to the troubled bank, which is being taken over by UBS (UBSG.S).

Credit Suisse immediately said it would appeal the decision.Billionaire businessman Ivanishvili, who was Georgia's prime minister in 2012 to 2013, had placed $1.1 billion under the custodianship of Credit Suisse Trust in 2005, the court heard."

SOURCE

https://www.reuters.com/world/europe/credit-suisse-ordered-pay-926-million-georgia-prime-minister-case-2023-05-26/

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