Greensill Criticized as SoftBank Wins Suit Over Fund Losses (1)

Lex Greensill faced severe criticism from a London judge who ruled in favor of SoftBank Group Corp. after a trial over hundreds of millions in investor losses tied to a series of trades made by his now-collapsed trade finance firm.

As liquidity at his firm dried up, Greensill concealed the “true position” from Credit Suisse, misleading officials during negotiations around a restructuring agreement, Judge Robert Miles said in the Wednesday ruling. The trades with Greensill Capital ultimately left investors in the Swiss lender’s funds out of pocket by as much as $440 million.

Credit Suisse had sued SoftBank accusing it ...