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Report: Former Credit Suisse wealth manager released from jail

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Report: Former Credit Suisse wealth manager released from jail

Patrice Lescaudron, a former Credit Suisse Group AG wealth manager who was sentenced to five years in prison, was released Nov. 30, 2018, Bloomberg News reported.

Lescaudron spent two years in pretrial detention and was jailed in February 2018 over unauthorized trades and fake purchase orders that resulted in damages of more than $140 million for the lender.

His release came less than 10 months after his conviction and followed a request to a Geneva appeals court that no longer sees him as a flight risk, according to the Jan. 17 report.

In July 2018, Bloomberg reported that Geneva's Criminal Appeals Court had ordered a prosecutor to re-examine charges against Lescaudron.