The Bermuda unit of Credit Suisse Group AG managing the fortune of billionaire Bidzina Ivanishvili “turned a ‘blind eye’” to the criminal behavior of a rogue banker, a judge ruled as he estimated the Georgian client’s losses at $553 million.
The damages for Ivanishvili are still to be calculated by forensic accountants working on the case, Bermuda Supreme Court Chief Justice Narinder Hargun said Tuesday in a brief hearing accompanying the 281-page judgment handed down against Credit Suisse Life Bermuda in the island nation’s capital, Hamilton.
