Two men sit on June 9, 2023 in a building in Lugano under a sign of Credit Suisse.
Fabrice Coffrini | AFP | Getty pictures
Credit Suisse Dienste AG is guilty on Monday and pays around 511 million US dollars to pay criminal proceedings taxpayer To hide more than 4 billion US dollars in at least 475 offshore accounts Ministry of Justice said.
In addition to this plea UBS The subsidiary also completed a non-contract agreement with prosecutors in connection with 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, of whom Credit Suisse AG Singapore knew or should have known that we were over 2 billion US dollars worth over 2 billion US dollars” Doj said.
The doj said that the criminal conspiracy, for which Credit Suisse was approved, “ultrahohe networks and with high network value of individual customers” of the Swiss Financial Services Corporation to avoid your US tax obligations from 2010 to 2021.
“Credit Suisse AG committed new crimes and hurt her May 2014 plea agreement With the United States, “said the department.
The Credit Suisse in 2014 remained guilty of helping us the taxpayer in the hiding place of offshore accounts before the IRS and paid 2.6 billion US dollars to pay the case. At that time, the greatest payment of all time was in a penalty tax case.
The company was guilty of a conspiracy on Monday to prepare false income tax returns in US district court in Alexandria, Virginia. The tax loss from the accounts to the United States was more than 71 million US dollars, and the associated income from Credit Suisse via increased $ 108.6 million.
The DOJ said that Credit Suisse and UBS are “obliged to” work completely with ongoing examinations and to determine all the information that they could later uncover “in relation to US-related accounts”.
“The agreements do not offer protection for people,” said the doj.
The plea comes more than two years after the Finance Committee of the Senate An investigation by the committee showed that Credit Suisse “was involved in the persistent tax evasion by ultra-well-being Americans … including a previously unknown, persistent and potentially criminal conspiracy, which fails to fail almost $ 100 million in secret offshore accounts of a single family of American taxpayers.”
Jeffrey Neiman, a lawyer in Florida who represented Whistleblower in this case in a statement, said his clients had uncovered and unveiled this persistent misconduct “against the violation of the original plea”.
Neiman said that its customers, all former Credit Suisse bankers bankers, made information about their plea agreement from 2014 for more than a decade, the IRS, the IRS and the Senate.
“With great personal risk and potential persecution by the Swiss authorities, they provided the government
With detailed evidence: names, social security numbers and passports of the US account
Owner whose assets have been hidden for decades, “said Neiman.
“You have turned internal documents, including bank statements and e -mails, and even intelligence about the movement and journey of
Bankers who enabled federal agents to act quickly and effectively. “
“The whistleblower have been waiting for this moment for almost a decade,” he said.
“Today they feel confirmed – to say the truth, to risk everything and to face one of the most powerful financial institutions in the world.”
In a charging document submitted against the Credit Suisse on Monday, it is said that the bank documents completed the US owners and the control of accounts, certain American accounts “as non-US people,” processed fictional paper stuff “, keep more than 100 accounts that a Swiss lawyer without welding without the welding Account account accounts benefit “and the services of $ 1.
On the obvious actions that were described in detail in this charge document And horse To maintain control of assets after they have changed the economic property of these assets to a relative who was not a US citizen, and other measures that enabled Horski to pay taxes on the assets.
Horsky, the Federal Prosecutor said that he contained an overseas account with $ 200 million in 2016, is guilty of crime that was guilty sentenced For seven months in prison in 2017 and paid a civil penalty of $ 100 million.
Paredit of Credit Suisse, the Swiss bank UBSin A opinion On Monday it said 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.”
Senator Ron Wyden from Oregon, the high -altitude democrat at the Senate financial committee, said on Monday in a statement: “This settlement fully mocked the results of my investigation, which revealed how Credit Suisse kept more than 700 million US dollars for rich Americans who were convicted of persecution.”
“The ultra-rich and shady Swiss bankers should not get a free passport to cook offshore tax evasion when regular Americans pay their fair share,” said Wyden.
