Credit Suisse to pay $511mn over helping wealthy Americans hide more than $4bn

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Credit Swiss has agreed to pay 511 million dollars and has convinced American taxpayers to help hide more than $ 4 billion from the authorities under an agreement with American taxpayers, acknowledged that it violated an agreement that was hit a decade ago.

UBSWhich earned his competitor as part of an emergency rescue in 2021, said on Monday that credit swiss services would pay more than two billion dollars a total of more than half a billion dollars.

These include $ 372 million to help prepare a false income tax return and its legacy booked at the Singapore Booking Center as part of a non-procedure agreement related to US taxpayers.

“UBS was not involved in the underlying behavior and there is zero tolerance for tax evasion,” the bank said in a statement that the bank entered its own $ 780 million settlement on similar behavior with US prosecutors in the 21st. As the successor Credit SweysUBS executives signed the petition with the prosecutors filed in the Federal Court on Monday and appeared in the court to enter the guilty application.

The agreement on this application ended a one -year investigation by the DOJ, saying that the Credit Sweys helped Americans to hide wealth and income from internal revenue services at at least 475 offshore accounts. The abuses have violated the 20 -injury application agreement with the US authorities, adding it.

The DOJ said in a statement, “Among other fraudulent acts, the Bankers on the Credit Suis False Record processed the fictitious appraisal papers and Billion in the account without tax consent was served more than $ 1 billion,” said a statement in a statement.

Credit Swiss agreed to pay $ 2.6 billion dollars to help us submit false returns to our taxpayers in the 21st – then pay the highest payment in a DOJ criminal tax.

On Monday, the bank also signed an agreement to avoid cases of accounts in Singapore in Singapore for those who were using to avoid taxes. The DOJ said the total resources of the total maintenance accounts between 20 and 2021 were more than $ 2 billion, the DO said.

According to federal prosecutors, US accounts in Singapore seemed to be unavoidable – and later discovered that they were discovered with the DOJ about them.

Under the agreement, which does not protect individuals, the credit swis service and UBS must cooperate with the ongoing probes of DOJ.

The US Senate Committee in 2021 found that the credit swice was involved in helping the ultra-rich Americans to avoid taxes, and US taxpayers failed to report nearly $ 1 million in a confidential offshore account of single families.

Former Credit Sue Employees, who originally stated the illegal activities of the bank, said that the tax evasion continued to be “well” after the “application application and punishment.”