The Dossier That Warned Credit Suisse About Sanjeev Gupta
- Internal 2018 report alleged Sanjeev Gupta took part in fraud
- Gupta’s group ‘categorically’ denies wrongdoing, lawyer says
The report that landed on the desks of Credit Suisse executives was a bombshell: Sanjeev Gupta, a global steel tycoon and one of the bank’s key borrowers, was a “clear participant” in a multi-billion dollar fraud, it claimed.
It was November 2018 and a small group of bankers at Credit Suisse, who had long mistrusted Gupta and his group of companies known as Liberty House, had hired a private-intelligence firm to probe his dealings. Now they were flagging its eye-popping conclusion to their superiors: he was, the report claimed, a central player in a web of companies that had made many trades that were “simply fake.”