ZURICH (Reuters) – A Bermuda court on Tuesday ruled a subsidiary of Credit Suisse was responsible for hundreds of millions in losses racked up by fraudulent trades executed for a billionaire client.
The court said that former Georgian Prime Minister Bidzina Ivanishvili and his family were due compensation from the Swiss bank’s Bermuda life-insurance arm. The bank said it would appeal the verdict.
(Reporting by Brenna Hughes Neghaiwi; editing by John O’Donnell)
