Two men sit under a sign of Credit Suisse displayed on a building in Lugano, on June 9, 2023.
Fabrice Coffrini | AFP | Getty Images
Credit Suisse will pay about $511 million to settle a criminal case for having conspired with American taxpayers to hide more than $4 billion in at least 475 offshore accounts, the Department of Justice said Monday.
The conspiracy allowed “ultra-high-net-worth and high-net-worth individual clients” of the Swiss financial services corporation to evade their U.S. tax obligations from 2010 through 2021, the DOJ said.
“In doing so, Credit Suisse AG committed new crimes and breached its May 2014 plea agreement with the United States,” the department said.
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