Credit Suisse Could Owe $2 Billion On Cold Case Fraud

Credit Suisse Group AG (NYSE:CS) might owe as much as $2 billion relating to a fraud case against the defunct National Century Financial Enterprises. That firm collapsed in 2002 after investors discovered they had hidden huge cash flow shortfalls. The collapse caused investors more than $2.6 billion, and caused the collapse of more than 250 health care companies.

If the company were to be found liable for the sums, it would deliver a serious blow to the firm’s business. The company is already cutting staff members worldwide, and selling parts of...