Singapore court orders Credit Suisse to pay Georgian ex-PM RM4.26 billion


Singapore, May 26, 2023 (AFP): A Singapore court on Friday ordered Credit Suisse to pay an ex-Georgian prime minister US$926 million (RM4.26 billion) for failing in its duty to safeguard his assets, in another blow to the fallen banking giant.

Credit Suisse was bought by its rival UBS, Switzerland's biggest bank, in March to prevent a financial collapse following a series of scandals.

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