A French entrepreneur has accused Credit Suisse and UBS of conducting extensive surveillance against him from 2016 to 2019, allegedly ordered by then-CEO Tidjane Thiam due to his relationship with the entrepreneur’s ex-wife. The lawsuit, filed in April 2024, claims CS maintained a surveillance dossier and hacked into the plaintiff’s email. While CS initially denied these claims, they later acknowledged some surveillance plans. The entrepreneur seeks $15 million in damages, amidst ongoing legal battles and denials from Thiam’s representatives.
Serious Allegations Against Credit Suisse and UBS
A French entrepreneur has leveled grave accusations against Credit Suisse (CS) and its parent company UBS, alleging that they orchestrated an extensive espionage initiative against him between 2016 and September 2019. The complaint claims that the then-CEO Tidjane Thiam was behind this surveillance, supposedly motivated by a secret relationship with the entrepreneur’s ex-wife, which purportedly contributed to the couple’s divorce. The relationship has since evolved, with the ex-wife becoming Thiam’s current partner.
Details of the Espionage Claims
This lawsuit, filed on April 11, 2024, in a Washington state court, alleges that CS maintained a detailed dossier on the businessman since October 2016, enabling employees to monitor his activities. The court documents reveal plans for surveillance in Hong Kong in November 2016, supported by SMS messages and communication logs that highlight discussions on effective observation techniques, including “almost untraceable tracking” of the entrepreneur’s mobile device.
The tone of these communications shifted dramatically when a security officer warned against the surveillance due to the target’s prominence and established local connections. Following this, there were attempts to cancel the surveillance, allegedly influenced by Thiam. However, the lawsuit suggests that CS continued its efforts, with reports of security personnel searching for the entrepreneur in various luxury hotels in Zurich in 2017.
The plaintiff also claims that CS hacked into his Microsoft email account, which included sensitive communications from his divorce attorneys. These allegations led him to seek legal action in Washington’s King County, where Microsoft is headquartered.
Despite initial denials from CS regarding any surveillance, the bank later acknowledged that plans for observation had indeed existed. CS’s defense indicated that the surveillance was aimed at protecting Thiam’s then-girlfriend amid disputes with her ex-spouse. The plaintiff contends that the documentation provided by CS contradicts their assertions, supporting his claim of being surveilled and suggesting a cover-up.
Now seeking at least $15 million in damages for the emotional and financial toll of the alleged espionage, the plaintiff’s case has garnered significant attention. The U.S. court’s records reveal numerous documents related to the case, including UBS’s attempt to dismiss the lawsuit, which was recently denied.
While the plaintiff’s legal team has not publicly commented, a representative for Thiam has maintained that neither CS nor Thiam conducted any surveillance on the businessman. As this high-profile case continues to unfold, questions linger about the motivations behind the accusations and the circumstances surrounding the alleged espionage activities.