Credit Suisse for the payment of 511 million US dollars to help the taxpayer to hide over 4 billion US dollars in overseas -NBC4 Washington

• Credit Suisse pays about 511 million US dollars to pay criminal proceedings because it has blurred with American taxpayers to hide more than 4 billion US dollars into at least 475 offshore accounts.
• The conspiracy made it possible to avoid Swiss society “ultra-hohe network values ​​and individual customers with high network values” from 2010 to 2021, said the Ministry of Justice.
• “Credit Suisse AG committed new crimes and violated the plea contract with the United States in May 2014,” said Doj.

Credit Suisse Services AG will pay about 511 million US dollars to pay criminal proceedings because it has teamed up with American taxpayers to hide more than 4 billion US dollars to at least 475 offshore accounts, said the Ministry of Justice on Monday.

The conspiracy enabled “Ultrahohe-Net-worthy and with high network values ​​of individual customers” of the Switzerland Financial Services Corporation to avoid your US tax obligations from 2010 to 2021, said the Doj.

“Credit Suisse AG committed new crimes and violated the plea contract with the United States in May 2014,” said the department.

The company is guilty of supporting a conspiracy and helping to create false income tax returns before the US district court in the eastern district of Virginia.

In addition to this plea, Credit Suisse has closed a default with prosecutors related to US accounts that were booked at Credit Suisse AG Singapore.

“Between 2014 and June 2023, Credit Suisse AG Singapore did not consider declared accounts for US persons who knew Credit Suisse AG Singapore or should have known that they were overall assets of over 2 billion US dollars,” said the doj.

“Credit Suisse AG Singapore has not adequately identified the true real owners of accounts and did not carry out a reasonable request for US indications in the accounts,” said the department.

“In 2023, during the post -proceedings by UBS AG Singapore and Credit Suisse AG Singapore, UBS became aware of the accounts recorded at Credit Suisse AG Singapore.

The parent company of Credit Suisse, Swiss bank UBS, said in a statement that it was “not involved in the underlying behavior and has no tolerance to tax evasion”. UBS acquired Credit Suisse in 2023.

“With this resolution, UBS is pleased to solve another legacy problems from Credit Suisse in accordance with the intention of UBS, in fair and balanced ways and in the best interest of all stakeholders,” said the bank.

“In the second quarter of 2025, UBS Group AG expects a credit from the partial publication of the liability proceedings set up with the acquisition of Credit Suisse as part of the purchase price allocation process,” the statement said. “UBS AG expects a fee regarding this resolution in the second quarter.”

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