Former Georgian banker, accused of causing loss for Bidzina Ivanishvili, found guilty

Former Georgian banker, accused of causing loss for Bidzina Ivanishvili, found guilty

Former Credit Suisse client adviser Patrice Lescaudron was sentenced to five years imprisonment by a Geneva court on Friday for abusing the trust of clients, including former Georgian PM Bidzina Ivanishvili, and putting in place a fraudulent scheme that brought him tens of millions of francs, InterPressNews reports citing Reuters. 

Lescaudron, who is French, appeared in court for the verdict wearing a grey fleece sweatshirt emblazoned with Ferrari, the name of the Italian sports car he was said to have purchased with the money he amassed. 

Judge Alexandra Banna said the ex-banker was guilty of serious fraud and forgery in his handling of former clients, including former Georgia Prime Minister Bidzina Ivanishvili and Russian oligarch Vitaly Malkin, “over a very long period of eight years”.

Reading the three-judge tribunal’s verdict, she said he had caused losses totalling 143 million Swiss francs ($152 million) and made personal gains of 30 million francs. Lescaudron, 54, admitted in court to having falsified trades and hidden mounting losses. 

1595 views


Vestnik Kavkaza

in Instagram

Subscribe



Populars