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Credit Suisse Wins Suit Brought by Convicted Ex-Banker

  • Ex-banker loses suit claiming $89 million in lost earnings
  • Vadim Benyatov had accused bank of failing to protect him
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Can Things Get Any Worse for Credit Suisse?
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Credit Suisse Group AG won a lawsuit against an ex-banker who sought more than 66 million pounds ($89 million) in lost earnings after he was convicted of espionage in Romania.

The Swiss lender didn’t owe or breach its duty of care to Vadim Benyatov, a London court ruled Tuesday. He had argued that Credit Suisse failed to protect him and others from being investigated by Romanian intelligence while working on deals linked to the privatization of the country’s energy sector.