Singapore court orders Credit Suisse to pay Georgian ex-PM US$926 million

A SINGAPORE court today 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.