The Bachelor alum Melissa Rycroft is feeling the heat after she criticized Kim Kardashian’s physical appearance at the 2019 Met Gala. “I don’t like feeling like I’m in trouble,” Rycroft, 36, said in an Instagram Stories video, seemingly taken in a car, on Tuesday, May 7. Shortly before posting the clip, the Dancing with the Stars alum addressed the controversy with a note. “Guess I’m going to have to talk about the Kardashian drama I somehow created with my post yesterday,” she wrote on her Stories. “I have a lot to say about this, so I’ll have to do it on this week’s podcast to get it all out…” The former professional cheerleader found herself in hot water on Monday, May 6, after she said Kardashian’s body was “not natural.” Rycroft shared a side-by-side comparison of the Keeping Up With the Kardashians star, 38, at the 2015 Met Gala and at this year’s fashion event and added, “And not something young ones should be looking up to. (not to mention it doesn’t even look right…..) #metgalafail.” The Selfish author walked the pink carpet at the prestigious event — which was held at New York City’s Metropolitan Museum of Art on Monday — wearing a corseted Mugler dress. While the “Logically Irrational” podcast cohost did not approve of the reality TV star’s ensemble, Kardashian’s famous siblings were on the opposite page. “You are my queen,” younger sister Khloé Kardashian commented on the KKW Beauty founder’s post from the gala. Eldest sis Kourtney Kardashian added, “Sheeeeeesh.” Neither Khloé, 34, nor Kourtney, 40, attended this year’s Met Gala, but younger sisters Kendall and Kylie Jenner did. Kim’s trainer, Melissa Alcantara, also defended the makeup mogul’s look. “To make things clear 1. This dress is corseted,” Alcantara wrote on her Instagram Stories on Monday. “BUT 2. Kim trains her ass off 6 days a f–king week, she wakes up early AF and is dedicated. 3. I paved the road for her but SHE did the work!”<doc-sep>Bloomberg (Bloomberg) -- Credit Suisse Group AG executives ignored warnings from colleagues about troubled steel tycoon Sanjeev Gupta as they channeled $1.2 billion of client funds to his businesses, according to people familiar with the matter.Bankers in Credit Suisse’s commodity trade-finance unit blacklisted Gupta’s Liberty Commodities Ltd. in 2016 because they suspected some of its deals weren’t legitimate, the people said. When they learned about two years later that the bank was lending to his companies through a suite of investment funds, which eventually grew to $10 billion, they flagged their worries to leaders in compliance and the division that housed the loans, one of the people said.The disclosure that Credit Suisse may have put clients at risk despite internal concerns over Gupta’s businesses adds a new twist to the debacle stemming from the March implosion of Greensill Capital, the finance firm at the center of the three-way relationship.Investigations, LawsuitsThe U.K. Serious Fraud Office is now investigating Gupta’s group of companies for suspected fraud, including in its financing deals with Greensill, according to a May 14 statement. Credit Suisse has sued to force Gupta’s Liberty Commodities into insolvency and has since shut the funds that made the loans and launched an internal investigation. Investors are staring at losses as the bank confronts embarrassing lawsuits.“We are currently focusing our efforts on recovering our investors’ money,” Will Bowen, a spokesman for Credit Suisse in London, said in an emailed statement, adding that the bank’s internal probe will focus on “all of the issues” linked to the funds. “We are committed to learning the lessons and will share the relevant lessons learnt at the appropriate time.”Andrew Mitchell, a spokesman for the Gupta Family Group Alliance, or GFG Alliance, a collective of businesses linked to Gupta including Liberty Commodities, denied any wrongdoing.The Greensill saga represents just one of the two disasters that rocked Credit Suisse in the first half of 2021. Since Greensill began unraveling, the bank has announced a $5.5 billion hit from the blowup at Archegos Capital Management.ApologiesFormer Chairman Urs Rohner apologized to shareholders and his successor, Antonio Horta-Osorio, who arrived at the end of April, has promised a sweeping strategy review.Chief Executive Officer Thomas Gottstein, who was head of the division that oversaw trade finance, wasn’t aware of the internal concerns about Gupta that had prompted the bank to cut him off, according to a person familiar with the matter.Employees at the trade-finance unit, which lends money for the buying and selling of commodities, cut ties with Gupta in 2016 after becoming skeptical toward his Liberty Commodities, the people said. They distrusted the documents the company provided, triggering doubts about its transactions, they said. In one example reported by Bloomberg, the company had presented another bank with what seemed to be duplicate shipping receipts. A spokesman for Gupta has denied any wrongdoing.Banking TiesLiberty Commodities pledged assets to Credit Suisse as security for borrowings in 2013 but by early 2016, all such commitments had been extinguished, indicating that the financing relationship had ceased, U.K. Companies House filings show. And while Gupta’s company listed the Swiss bank as one of its lenders in its 2014 annual report, it didn’t in the following year’s report, which is dated May 2016, according to the filings.Their counterparts at other banks, including Macquarie Group Ltd. and Sberbank PJSC, halted trading with Liberty Commodities around the same time because of similar concerns; Goldman Sachs Group Inc. also stopped in 2016, Bloomberg has reported.Nevertheless, executives at Credit Suisse’s asset-management division -- which creates investment products for clients and charges a fee for overseeing them -- began arranging a suite of funds focused on supply-chain finance in 2017. The entities bought securitized loans packaged by Greensill, a firm created by Australian businessman Lex Greensill. Much of the debts were linked to Gupta’s businesses.WarningsOfficials at the commodity trade-finance unit were concerned when they found out about the funds’ links to Gupta and took their fears to Thomas Grotzer, general counsel for the bank’s Swiss division. They also warned Luc Mathys and Lukas Haas, the bankers who helped oversee the trades at the asset-management unit.Grotzer was promoted last month to interim global head of compliance at Credit Suisse. He didn’t respond to requests for comment. Mathys, head of fixed-income at the asset-management division, and Haas, a portfolio manager, were put on temporary leave in March. Neither responded to requests for comment.The bank pushed ahead with the funds and marketed them to investors as being made up of short-term debt secured on invoices, assets considered so safe that Credit Suisse gave the largest vehicle its lowest rating for risk. Yet part of the loans were linked to mere possible future revenues.Other parts of the bank continued working with Gupta as well. Credit Suisse’s investment bankers were due to lead an initial public offering for Liberty’s U.S. steel arm, which was ultimately pulled, according to a statement from the company. Gupta also announced that the Swiss bank would finance his planned acquisition of Thyssenkrupp AG’s steel unit, which fell apart earlier this year.Credit Suisse has so far recouped about $5.9 billion of the $10 billion in these supply-chain funds, but it remains unclear how much will be returned ultimately to investors. Loans to Gupta’s businesses are among a batch of debts that are the “principal sources of valuation uncertainty,” the bank said earlier this month.Liberty Commodities’s external legal advisors investigated “alleged rumors concerning the paperwork” it used in 2019, according to Mitchell, the spokesman for GFG Alliance. They found no evidence to substantiate the rumors, nor was the company “ever subject to further complaints or proceedings,” he said.“LCL has ongoing banking relationships with separate financial institutions,” Mitchell said, referring to Liberty Commodities. “The trade-finance market has been hugely challenging for all but the very largest commodities traders in recent years. Nevertheless, no financial institution has been left out of pocket as a result of lending money to LCL. On the contrary, they have received substantial commercial returns.”More stories like this are available on bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.<doc-sep>
Kim Kardashian West’s eye-popping spun-silk organza and crystal Thierry Mugler gown for the Met Gala this week may have looked exciting, but the dress was reportedly both work to put on and to wear. Kardashian West had to be laced into a corseted bodysuit by renowned corsetier Mr. Pearl before putting on the silicon curve-hugging frock inspired by a wet shirtdress worn by Sophia Loren in 1957’s “Boy on a Dolphin,” according to Vogue. “Anna, if I don’t sit down for dinner, now you know why,” she laughed, referring to Vogue editor Anna Wintour. Kardashian West attempted to sit with the bodysuit on for Vogue’s cameras. “I can only like half-sit,” she decided. “This is like beyond what I ever thought couture was,” Kardashian West said while being fitted in the gown. “I won’t be able to pee for about four hours,” she told the Vogue camera people. “So we’re coming up with a plan of what we do in case of an emergency." KIM KARDASHIAN TO STAR IN CRIMINAL JUSTICE DOCUMENTARY She also admitted that she would be standing while holding onto a pole in the car on the way to the ball. “Just wish me luck,” she said. The reality star said in preparation for the look that she underwent three facials in one week, a spray tan and a Korean spa scrub. Kardashian West said she used to sit on her bed looking at photos of stars on the red carpet of the Met Gala, which started in 1948, dreaming she could go someday and added that she was “humbled” to be a cover girl for Mugler. CLICK HERE TO GET THE FOX NEWS APP The gown is the first that designer Manfred Thierry Mugler has made for the House of Mugler in more than 20 years, Vogue reported.