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(Bloomberg) -- The son of the ex-Credit Suisse banker on trial for defrauding clients from Russia and Georgia told a Geneva court how his father became a workaholic after joining the bank because he fretted over whether he would be able to win new clients.
Denis Lescaudron, speaking quickly, in a barely audible voice, described how Patrice Lescaudron had been someone who took his work seriously but would always be home at a reasonable hour.
“When he began working for Credit Suisse, he was worried that his lack of experience would mean he wouldn’t find clients,” his son said. Lescaudron did find them, he said, and that only meant longer hours and regular business trips. “Then, he would leave early and return late and work during the holidays.”
The father is on trial for fraud, forgery and criminal mismanagement and has admitted to falsifying statements and trades to try to cover his growing losses but has also said he never profited from the scheme. Deemed a risk to flee to his native France, he has been denied bail and spent the past two years in pretrial detention. This week in court, Lescaudron said he sought treatment for hypertension while working for the bank.
Asked by Lescaudron’s lawyer about how the experience had changed his father, Denis Lescaudron said he’d lost a lot of weight and his outlook had changed. “He’s become sad and worried about what the future will bring.”
Neverthless, the younger Lescaudron said, he and his mother are glad the trial is finally underway after multiple delays. The family wants to put this behind them, he explained during his 16 minutes of testimony.
“I love him a lot,” he said, his eyes red. Denis Lescaudron was allowed to give his father, sitting on a bench in the front row of the court, a brief hug before leaving the courtroom.
Lescaudron’s lawyer was granted a one-day delay in the proceedings on Friday to review documents on the confiscation of assets before he makes his closing arguments. The trial will resume Tuesday.
(Updates with judge granting one-day delay in last paragraph.)
To contact the reporter on this story: Hugo Miller in Geneva at firstname.lastname@example.org.
To contact the editors responsible for this story: Anthony Aarons at email@example.com, Christopher Elser, Paul Armstrong
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