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
This article is for subscribers only.
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.