George Bachiashvili, Ivanishvili’s adviser, testified about those discrepancies at the trial, which pits the Georgian against Credit Suisse Trust (Singapore) Ltd., through which Ivanishvili had hundred of millions invested.
An adviser to the billionaire suing a Credit Suisse trust for US$800 million ($1.12 billion) in damages told a Singapore court that the disgraced banker who defrauded his boss made mistakes in the portfolio statements that clearly went beyond just “human errors.”
Patrice Lescaudron, the banker whose conviction for fraud triggered lawsuits around the world from clients including Bidzina Ivanishvili, admitted in 2015 that he had faked signatures and trading orders to try and recover losses in his clients’ portfolios. He also confessed to running two sets of client statements at times to hide the hidden trades and differing valuations.
