Lawyers for Georgia’s billionaire former prime minister Bidzina Ivanishvili accused Credit Suisse Group AG of money laundering as they step up their fight with the Swiss bank over its handling of a former wealth manager who allegedly made unauthorized transactions to cover up trading losses.
They filed the criminal complaint with Geneva prosecutors Tuesday, alleging that the bank failed to install adequate procedures to prevent money laundering, allowing employees to act with complete freedom. The complaint is based on hearings, a review of the evidence as well as information received from MROS, Switzerland’s Money-Laundering Reporting Office, the lawyers wrote.
“A limited examination of the dossier in this case revealed facts that lead us to conclude numerous acts of money laundering were committed within Credit Suisse,” to the detriment of Ivanishvili, according to the criminal complaint filed by his attorneys.
The original article can be found at bloomberg.com