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Credit Suisse Gives Rogue Banker Unlikely Boost in Appeal

  • Bank challenges mismanagement charge against Lescaudron
  • Bank appeal of his conviction may help limits its liabilities
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Five months after a former Credit Suisse Group AG banker was convicted of orchestrating a near decade-long scheme to hide growing losses from his clients, the financier has got an unlikely boost from his one-time employer.

Lawyers for the bank wrote to Geneva’s Criminal Appeals Court last month asking it to acquit Patrice Lescaudron of a single charge of criminal mismanagement related to a pair of his clients’ accounts outlined in his 2017 indictment. The bank isn’t challenging the 54-year-old’s convictions for fraud and forgery.