Credit Suisse Spy Defends Surveillance of Star Banker

Credit Suisse Spy Defends Surveillance of Star Banker
Iqbal Khan, former CEO International Wealth Management of Swiss bank Credit Suisse attends the company's annual shareholder meeting in Zurich, Switzerland April 26, 2019. Arnd Wiegmann/Reuters
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The Credit Suisse Group AG spying scandal that has rocked Swiss financial circles took a new turn on Sept. 24, with the private investigator hired by the bank giving its own version how it shadowed former star banker Iqbal Khan. The details emerging show Credit Suisse hired a local company that offers cash collection, investigations and security services, asking it to take photos of Khan and identify any people he met, while avoiding getting too close to the target, according to a report sent to the bank and seen by Bloomberg.

But the private security firm, named Investigo GmbH, said its employee was acting alone and “defensively,” contradicting earlier accounts that several private detectives followed Khan and tried to take away his mobile phone. The company was asked not to break the law, for example by trespassing.