Credit Suisse reveals $1.6b exposure to Sanjeev Gupta
London | Credit Suisse has harvested another $US2 billion ($2.6 billion) from the clients of collapsed supply-chain financier Greensill, and has promised “appropriate legal actions” to get money back for the 1000 investors trapped in its frozen $US10 billion Greensill-linked funds.
Credit Suisse’s announcement on Tuesday came with an admission that the funds had a $US1.2 billion exposure to the opaque and ailing empire of British steel magnate Sanjeev Gupta, who has reportedly stopped repaying money he owes to the Swiss funds via Greensill.
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