Reported 2 days ago
Credit Suisse received anonymous warnings about the risks associated with Greensill Capital three years before the firm's downfall in March 2021. Despite repeated alerts regarding their dealings with Lex Greensill's company, senior managers chose to proceed, which ultimately contributed to Credit Suisse's own collapse in March 2023. The regulator Finma's report revealed ongoing concerns over Greensill’s financial practices and management before the bank was forced to close its $10 billion Greensill-backed funds, resulting in significant losses for investors.
Source: YAHOO