‘Simply Fake’: Ignored Dossier Warned Credit Suisse About Gupta

The report that landed on the desks of Credit Suisseexecutives 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 ...