Credit Suisse caught trying to shred evidence of loans to Russian oligarchs backed by superyachts and private jets

From fortune.com

Credit Suisse once again seems to be doing its level best to cement its reputation as Europe’s most scandal-plagued bank. According to reports in the Financial Times, the Swiss credit institute has quietly been offloading risks from its exposure to U.S.-sanctioned Russian oligarchs, after this group was responsible in 2017 and 2018 for a third of the defaults on yacht and private jet loans the bank extended. Hedge funds and other investors that bought securitized portfolios of these deals, backed by the ultra-luxury status items, were asked in a letter this week to “destroy and permanently erase” any evidence ... (full story)