- Credit Suisse Services AG concluded a deal with American organizers This will witness that a total of $ 511 million, including confiscation, will pay, after he admitted that he was guilty of conspiracy to hide billions in external accounts kept by the wealthy American evaders. This is the second deal in 11 years for Credit Suisse, after he acknowledged that he was guilty in 2014 with the help of American customers who were in high networks to hide money from the Tax Authority. The bank merged with UBS group AG in May 2024.
The Credit Suisse Services Unit acknowledged guilt and was sentenced to Monday in a long -term scheme that hides rich American accounts from the authorities, According to to Ministry of Justice.
Between 2010 and July 2021, the authorities said that Credit Suisse AG was drawn with its employees and holders of American accounts rich in hiding the money and assets they hold at the Swiss Bank. In turn, this allowed US Bank customers to avoid paying taxes while the Credit Suisse helped the planned by providing private banking services, according to the guilt recognition agreement.
“Among the other fraudulent actions, bankers at Credit Suisse falsified the records, processing fake papers, and serving more than a billion dollars in accounts without documenting tax compliance,” DOJ said in A. statement.
The appeal is escalating to the Swiss bank deal for the year 2014 with the authorities, which witnessed the punishment of Credit Suisse $ 2.6 billion To help and help taxpayers provide wrong returns. Which – which deal Credit suisse is required Program implementation To ensure the compliance of American laws. “It has committed new crimes and violated the guilt recognition agreement in May 2014 with the United States,” said the authorities on Monday.
Between 2014 and June 2023, Credit Suisse Ag Singapore kept unannounced accounts for wealthy Americans, with money and assets that are worth more than two billion dollars, the authorities said. In 2023, after Credit Suisse and UBS began Mergery processUBS Discover accounts with Credit Suisse Ag Singapore. UBS froze them, investigated, and revealed information to the Ministry of Justice. In a statement, UBS said he expected it Get financial credit To cooperate.
Swiss banking giant Celebrate Decision of what he called “Another Old Credit Suisse” issues on Monday.
“UBS did not participate in the basic behavior and had no tolerance with tax evasion,” the bank said in a statement. UBS, itself, entered into Delayed prosecution agreement With American organizers in 2009 on charges of conspiring to defraud the United States by impeding the Tax Authority group. The bank agreed to pay $ 780 million of fines, penalties, benefits and compensation.
According to the Securities and Exchange Committee, UBS has about 6.2 trillion dollars in the world, and $ 2 trillion has been managed in the United States as of September 30, 2024. The annual report This year, the UBS Group Management concluded that there was Weak material In internal controls on financial reports at the end of 2024 due to problems with Credit Suisse.
UBS said that although Credit Suisse is no longer a separate legal entity, many reservation, accounting, and risk management systems were still being used. Given that in 2024, immigration efforts were still continuing, “The administration concluded that there is material weakness in internal control of financial reports on December 31, 2024”, UBS said in its annual report.
This story was originally shown on Fortune.com
https://fortune.com/img-assets/wp-content/uploads/2025/05/GettyImages-1258845972-e1746486995989.jpg?resize=1200,600
Source link