Georgian PM says Credit Suisse was weaponised for political purposes

Georgian Prime Minister Irakli Kobakhidze on Wednesday said certain forces easily used Credit Suisse as a political instrument, which he claimed is clearly demonstrated in the case involving Bidzina Ivanishvili, the founder and Honorary Chair of the ruling Georgian Dream party.

Speaking to Georgian journalists in Dubai, the Prime Minister stated that these forces not only used the bank for political purposes but also attempted to damage its reputation.

“On the one hand, certain forces used this bank very easily as a political tool, while at the same time attempting to undermine its reputation, primarily to drive down share prices so the bank could be acquired at a lower cost. In reality, they achieved this goal”, he said.

“Credit Suisse was very easily used as a political tool by certain forces, which is clearly visible in the case of Mr. Bidzina Ivanishvili. In addition, we all saw that the price of Credit Suisse shares dropped dozens of times, and these shares are being purchased by specific entities, which clearly shows the overall picture”, Kobakhidze concluded.

A new probe of Swiss bank Credit Suisse discovered 890 previously undisclosed accounts with potential Nazi links, a US senator said on Tuesday, amid efforts to shine a light on what he said was the bank's hidden role in World War Two crimes.

Holders of the wartime accounts included the German Foreign Office, the SS paramilitary organisation and a German arms-manufacturing company, US Republican Senator Chuck Grassley told reporters in a briefing.