Credit Suisse Pulled Into Geneva Fight Over Lost Client Cash
- Russians name bank as a potential target, according to lawyer
- Ex-manager accused in Geneva of defrauding banks' clients
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Credit Suisse Group AG has been dragged into a second criminal complaint brought by two Russian clients who claim that a former manager in the bank’s wealth management unit made unauthorized transactions to cover up trading losses.
The new complaint filed Monday by the two businessmen alleges criminal mismanagement and abuse of confidence, according to their Geneva-based lawyer Giorgio Campa. He said the complaint also cites Credit Suisse as a potential target if wrongdoing can’t be attributed to an individual, which could open the bank to wider liability.