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Credit Suisse has asked hedge funds and other investors to destroy documents relating to its richest clients’ yachts and private jets, in an attempt to stop information leaking about a unit of the bank that has made loans to oligarchs who were later sanctioned.
Investors this week received letters from the Swiss bank requesting that they destroy the documents relating to a securitisation of loans backed by “jets, yachts, real estate and/or financial assets”, according to three people whose firm received the request.
The letters tell the investors to “destroy and permanently erase” any confidential information Credit Suisse previously provided in relation to the transaction, citing a “recent data leak to the media” that it said had been “verified by our investigators”.