A Credit Suisse unit pleaded guilty to conspiring to help its customers hide more than US$4bil from the Internal Revenue Service in at least 475 offshore accounts, the Department of Justice said. — Bloomberg
NEW YORK: UBS Group AG has agreed to pay US$511mil to settle a US investigation into how Credit Suisse Group, the Swiss bank it bought, helped rich Americans evade taxes even after pledging to stop the practice a decade ago.
A Credit Suisse unit pleaded guilty to conspiring to help its customers hide more than US$4bil from the Internal Revenue Service in at least 475 offshore accounts, the Department of Justice said.
