Credit Suisse Hid Over $700 Million From US Department Of Justice: Senate
NDTV
Credit Suisse pleaded guilty in 2014 to attempting to aid and assist US taxpayers in filing false income tax returns.
Embattled Swiss banking giant Credit Suisse has failed to disclose more than $700 million in previously undeclared accounts since 2014, in violation of a plea deal with the US Department of Justice, a Senate committee said Wednesday.
The findings of the two-year Senate Finance Committee investigation add to the woes of the Swiss investment bank, which was pushed to merge with regional rival UBS earlier this month after suffering contagion from the collapse of Silicon Valley Bank.
"At the center of this investigation are greedy Swiss bankers and catnapping government regulators," the chair of the committee Senator Ron Wyden said in a statement.
"The result appears to be a massive, ongoing conspiracy to help ultra-wealthy US citizens to evade taxes and rip off their fellow Americans."
