Author Topic: Credit Suisse Pleads Guilty to Tax Evasion Charge  (Read 710 times)

Offline walkstall

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Credit Suisse Pleads Guilty to Tax Evasion Charge
« on: May 19, 2014, 07:42:26 PM »
Credit Suisse Chief Executive Brady Dougan said in a statement, "We deeply regret the past misconduct that led to this settlement."

Hundreds of Credit Suisse employees worked for years to deceive U.S. officials and help wealthy Americans avoid paying taxes through secret offshore accounts, Attorney General Eric Holder said Monday at a news conference announcing that the bank would pay about $2.6 billion.

Holder said it was the largest penalty imposed in any criminal tax case, and that Credit Suisse is the largest bank to plead guilty in a criminal case in 20 years. The bank has admitted wrongdoing and made various changes to allow it to move forward in compliance with the law, noted Holder, who dubbed the tax-evasion scheme "brazen."

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