Bank managers have to speak up about money laundering allegations in front of law enforcement officers in Geneva.
(Photo: Reuters)
Zurich It was an appointment that Geneva private bankers are extremely reluctant to attend. According to Handelsblatt information, Babak Dastmaltschi, one of the highest-ranking advisors for wealthy clients at Credit Suisse, was recently summoned to the Geneva Palace of Justice. There he had to answer unpleasant questions about one of his former employees in front of public prosecutor Yves Bertossa: Patrice Lescaudron.
The case of the former star customer advisor Lescaudron has preoccupied the bank and the Swiss judiciary for years. He had embezzled the assets of wealthy customers from Eastern Europe and Russia and diverted a lot of money for himself.
In 2018, a Geneva criminal court sentenced him to five years in prison and a fine of 130 million Swiss francs. Lescaudron committed suicide in the summer of 2020. To this day, his former customers complain that they have not received adequate compensation from the bank.
The Georgian former head of government Bidsina Ivanishvili is one of the most prominent ex-customers. He had already reported Credit Suisse in 2016 for money laundering.
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