(Bloomberg) -- Credit Suisse Group AG won a lawsuit against an ex-banker who sought more than 66 million pounds ($89 million) in lost earnings after he was convicted of espionage in Romania.
The Swiss lender didn’t owe or breach its duty of care to Vadim Benyatov, a London court ruled Tuesday. He had argued that Credit Suisse failed to protect him and others from being investigated by Romanian intelligence while working on deals linked to the privatization of the country’s energy sector.
“We believed Mr. Benyatov’s claims were meritless from the outset,” a Credit Suisse spokesperson said.
A lawyer representing Benyatov didn’t immediately respond to requests for comment.
Benyatov, a former managing director, was taken into custody in an early morning raid of the Bucharest Hilton by Romanian secret police wielding machine guns. He was put in a jail cell with “two heroin dealers and a serial burglar” and was placed under house arrest, his lawyers said in court documents.
During last year’s trial, Benyatov’s lawyers criticized the Swiss lender for “very serious shortcomings” in its “risk management,” exposed by its links to Greensill Capital and Archegos Capital Management.
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