According to Reuters, Patrice Lescaudron admitted hiding mounting losses of CHF143m (£108.9m, €124m, $152m) with fraudulent transactions and took CHF30m for himself.
The 54-year-old said he was afraid of his Russian and eastern European clients and hid the losses by shifting money between accounts until it became too great to hide.
Lescaudron’s former clients include Georgian prime minister Bidzina Ivanishvili and Russian oligarch Vitaly Malkin.
Cut and paste
The court heard how Lescaudron used cut and paste to falsify signatures on trades which he used to build a luxury lifestyle, cars, watches, art and estates in France and Switzerland.
Credit Suisse managers claim either they, nor any other employee, knew anything of the eight-year fraud.
Ivanishvili is claiming a wider fraud and suing Credit Suisse.
Taking into account good behaviour and time already served, Lescaudron lawyers hope their client could be released in April 2019.
