Credit Suisse admits to having helped some of his American clients to evade taxes and agrees to pay a maxi-fine of about 2,6 billion dollars. For the first time in XNUMX years, the US Justice Department has forced a major bank to plead guilty to a felony crime, cracking down on high finance investigations.
The institution had already set aside about $800 million in reserves to deal with the case, but it announced that it will post extraordinary charges of $1,8 billion in the second quarter, although it does not expect a material impact on its operations.
In detail, Credit Suisse will pay $1,8 billion to the Justice Department, $715 million to the New York State Department of Financial Services and $100 million to the Federal Reserve.
Chief Executive Officer Brady Dougan and President Urs Rohner are expected to remain in office. US Justice Secretary Eric Holder stressed that the Bank has "knowingly and purposefully" helped thousands of US clients hide their assets and incomes for decades.
