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Credit Suisse 'about to settle' major tax evasion case

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Credit Suisse 'about to settle' major tax evasion case

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Credit Suisse is reportedly about to pay the equivalent of around $2.5 (1.8 billion euros) to various US authorities in a long-running tax case.

The bank – Switzerland’s second largest – would plead guilty to charges that it helped American clients evade US taxes with accounts under false names.

Financial news media are quoting sources as saying a settlement could come as early as next week with a rare guilty plea by a major bank.

Analysts expressed surprise at the size of the payout.

Currently 14 Swiss companies are facing US criminal investigations into tax evasion.

with Reuters