Credit Suisse to pay $ 511 million to help the wealthy people hide more than $ 4 billion

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Credit Suisse agreed to pay $ 511 million and acknowledge guilt to help American taxpayers hide more than $ 4 billion in the authorities under an agreement with the US Department of Justice, admitting that it had violated a deal that concluded a decade ago for similar reasons.

UBSShe said on Monday that Credit Suisse Services will pay two grams of two groups, more than half a billion dollars.

This includes 372 million dollars to help prepare tax declarations for wrong income and about 139 million dollars as part of the Non -Caution Agreement regarding US taxpayers who were booked at the old Singaporean reservation center.

“UBS did not participate in basic behavior and had no tolerance with tax evasion,” said the bank, which entered a $ 780 million settlement with American prosecutors in 2009 due to similar behavior. As the successor to Credit SwissUBS executive officials signed the approval of guilt submitted in the Federal Court in Virginia on Monday, and they appeared before the court on behalf of the company to enter the guilt.

The Approving Approving an End of A year by the Ministry of Justice, which said that Credit Suisse helped the Americans hide assets and income from the internal revenue department in at least 475 accounts abroad. She added that misconduct has violated the 2014 confession agreement that was shocked by the lender with the American authorities.

“Among the other fraudulent acts, bankers in Credit Suisse records forged records, fake donation papers, and serving more than a billion dollars in accounts without documenting tax compliance,” the Ministry of Justice said in a statement.

In 2014, Credit Suisse agreed to pay $ 2.6 billion – then the highest batch in the criminal tax case of the Ministry of Justice – to help us provide wrong returns.

On Monday, the bank also concluded an agreement to avoid prosecution regarding the accounts it signed in Singapore on behalf of the customers who were using them to evade taxes. The Ministry of Justice said that the total account assets, which were preserved between 2014 and 2023, amounted to more than 2 billion dollars.

UBS has discovered what is not announced that US accounts in Singapore after merging with Credit Suisse – and later revealed information about it with the Ministry of Justice, according to federal prosecutors.

Under deals, which do not protect individuals, Credit Suisse and UBS services must cooperate with the Ministry of Justice’s ongoing investigations.

The settlement comes after the US Senate Committee found that Credit Suisse was complicit in helping the very wealthy Americans to avoid taxes, and that it failed to report nearly $ 100 million in secret accounts abroad for one of the American taxpayers.

The investigation was operated after the former Credit Suisse employees, who originally reported the bank’s illegal activities, said that tax evasion continued “after the approval agreement.”