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ivanishvili initiates legal action against julius bär over alleged misconduct
Bidzina Ivanishvili, the former Georgian premier and billionaire, is initiating legal action against Julius Bär, accusing the bank of "political blackmail" after it allegedly withheld account information and misinterpreted U.S. sanctions. His lawyers claim the bank coordinated with hedge funds to his detriment, following a lengthy litigation with Credit Suisse, which resulted in significant payouts for Ivanishvili. Currently, he is recognized as Georgia's richest individual, with a net worth of $7.7 billion, according to the Bloomberg Billionaires Index.
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