Bidzina Ivanishvili to Receive $926 Million Compensation After Lawsuit Against Credit Suisse

billionaire and former Prime Minister of Georgia Bidzina Ivanishvili will receive $926 million in compensation after winning a lawsuit against a subsidiary of Credit Suisse in Singapore, according to AP.

According to the Singapore International Commercial Court, Ivanishvili invested more than $1.1 billion in 2004 in trusts managed by Credit Suisse Trust Limited, whose managing official “embezzled millions of dollars” over a span of nine years before being apprehended and imprisoned.

“The ruling published today is erroneous and raises very important legal issues,” said Credit Suisse in a statement.

Credit Suisse Trust Limited has announced its intention to appeal the decision.